The Road Transport and Highways Ministry in India has set a target of constructing roads worth Rs 15 lakh crore in the next two years.
Union Minister for Road Transport and Highways Nitin Gadkari said his ministry is working overtime to clear all arbitration cases with concessionaires.
The minister stated this while interacting with the members of State Institute of Agriculture Management (SIAM) through video conferencing.
During this interaction, members expressed concerns regarding various challenges being faced by industry amid COVID-19 pandemic.
Mr Gadkari suggested to focus on enhancing liquidity in business, as ups and downs are common. One need to plan for bad times while working for growth. Industry should focus more on innovation, technology and research skill to become competitive in global market.
The Minister informed that he has directed the ministry officials to finalise the auto scrapping policy quickly, and said, it will go a long way in cost reduction. He also suggested exploring cheaper credits including foreign capital for enhancing liquidity in the automobile manufacturing sector.
On the question of BS4 vehicles, he said, the government is bound by SC verdict on the same. However, on industry suggestion, he will get the matter examined afresh. Regarding relaxations sought on other regulations, Mr Gadkari stated that he will endeavour to provide relief wherever possible where industry is seeking extension of time.
