TRANSPORTATION

Govt taking steps to attract FDI in Infra to address liquidity crunch: Gadkari

Union Minister Nitin Gadkari on Tuesday said the government is making efforts to attract FDI in infrastructure sector to address liquidity crunch faced by the COVID-19-hit economy. The Road Transport, Highways and MSME minister also said that talks are on with various pension funds, insurance funds and financial institutions.

“Infrastructure is the most economically viable industry. The internal rate of return of projects is very good.

“We are trying to get FDI (foreign direct investment) in Infrastructure as it is 100 per cent allowed. We are trying to bring Insurance Fund, Pension Fund etc, while talks are on with the World Bank, ADB… We are moving fast in that direction,” Gadkari said, addressing a webinar on Road Development in India.

Urging private players to join hands with the government, he said the economy – hit by coronavirus – is passing through a crucial phase and requires liquidity.

Source
ET Energy World
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