No dearth of finance, will tap capital market to fund roads: Nitin Gadkari
Claiming that there is no recession in the infrastructure sector, transport minister Nitin Gadkari on Tuesday said that he will now tap the capital markets to raise funds for the highway projects. Speaking at the annual session of Indian Construction Equipment Manufacturers Association (ICEMA), Gadkari said, “Many people are talking about recession. As far as the infrastructure is concerned there is no problem.”
“I am now going to the capital markets. I do not have any problem with financial resources. We will not go to the big people. We will go to the small people to raise funds in lower ticket size of ₹1 lakh or ₹2 lakh, and offer them guaranteed return of more than 8%,” Gadkari said, adding that this will help raise tremendous amounts of money through which the government hopes to make more roads.