Speaking at the Moneycontrol Policy Next event in Delhi, Minister of Road Transport and Highways, Nitin Gadkari said that the quality of road infrastructure remains a concern in India and that he will start rating road contractors based on their performance. "Performance audit is more important than a financial audit," he added.
The live blog session has concluded. For more news, views and updates, stay tuned with Moneycontrol.com.
'Moneycontrol Policy Next' Revisit: Will make road infrastructure of US standard before end of 2024: Nitin Gadkari
India seeks to boost its road infrastructure to the standard seen in the world’s largest economy, while also pushing economic growth, according to Nitin Gadkari, the minister of road transport and highways.
“There are problems. A strong political will is very important,” Gadkari said at the inaugural MoneyControl Policy Next - The Rs 10 Trillion Infra Push summit in New Delhi. “Where there is a will, there is a way. I like people who get things done.”
'Moneycontrol Policy Next' Revisit: Govt should consider one integrated transport department under, create a single agency to look at logistics - Moneycontrol Panel on National Logistics Policy
The central government should consider the integration of all transport departments under one entity in order to address all issues related to cargo movement and logistics in India, Vijay Chhibber, former secretary in the Ministry of Road Transport and Highways of India said.
Speaking at the Moneycontrol Policy Next event in Delhi, the Director General, of Energy Power Transmission said that despite the efforts taken by the central government in the last few years to develop physical and digital infrastructure in the logistics industry in India, the implementation on the ground has not seen a massive transformation. Take a look at the panel's key insights and ideas, here
'Moneycontrol Policy Next' Revisit: PM Modi made it clear that short-term agenda will not interfere with infra development, says Rajiv Kumar
Prime Minister Narendra Modi has made it very clear that the short-term political agenda won’t interfere with India's infrastructure development, which is the key to making the economy grow at a rate of nearly 8 percent, Rajiv Kumar, the former vice chairman of Niti Aayog, said at the inaugural Moneycontrol Policy Next event in New Delhi. Read in detail, here
Moneycontrol Policy Next Live Updates: Gadkari on 2024 elections
"If you compare, our government's work with that of the previous government, you will realise we have done more in 10 years in comparison to what they did in 50-60 years. The economy is growing."
Moneycontrol Policy Next Live Updates: Gadkari says roads are being audited for black spots
- Our performance on road safety is not up to themark.
- Road and automobile engineering needto improve. Roads are being audited for black spots.
- A number of DPRs for road projects are below safety standards.
Moneycontrol Policy Next Live Updates: Gadkari says, "Will fine people who park vehicles outside houses"
- Our policies enable fixing problems first, then commencing work. Hence, all work going smoothly.
- Have several companies like L&T working in the infrastructure sector.
- Focus is on fast-tracking infra development.
- Working on encouraging public transportation.
- Will fine people whopark vehicles outside houses.
Moneycontrol Policy Next Live Updates: Gadkari says will start rating road contractors based on their performance
- Works worth Rs 1,300 crore have been approved for the Delhi-Jaipur Highway, but are stuck due to Delhi HC stay.
- Concerned about pollution. Have to get our work done and protect the environment; transplanted 12,000 trees while making Dwaraka expressway.
- Cannot form a sudden opinion on Joshimath incident. Joshimath has a lot of encroachment and no drainage system. However, we await the report on it. The enquiry is underway, and will comply with whatever is in the report.
Moneycontrol Policy Next Live Updates: Gadkari says the quality of road infrastructure remains a concern in India
- Bengaluru-Mysuru expressway does have some problems. But we will shortly fix it.
- Panipat’s peripheral road will reduce Delhi’s pollution by half.
- Will be able to go to Jaipur, and other highways via the Dwarka expressway.
- Have made a new four-lane bridge in Goa with a focus on quality.
Moneycontrol Policy Next Live Updates: Gadkari says performance audit is more important than financial audit
- I always go to review all projects, and have made quality controls stricter
- Performance audit is more important than a financial audit.
- There are some people who convert problems into opportunities and some who convert opportunities into problems (Gadkari on how the government is handling problems while building infrastructure).
- Strong political will is important for the implementation of projects on the ground.
Moneycontrol Policy Next Live Updates: Gadkari says India has the potential to become an auto manufacturing hub
- Hydrogen is the fuel for the future. Hydrogen via electrolyzer is costly. It can be made by using solar power.
- Lot of experiments are going on around hydrogen.
- Importing 1,200 tonnes of lithium every year. J&K find will help.
- We are looking to extract Lithium in J&K as early as possible.
- India has the potential to become an auto manufacturing hub.
- Need to promote modern public transport.
- Waterway is very important for the future. It is cost-efficient. Logistics cost in the waterway is less. Engines for this can run on alternative fuels.
- Delhi-Mumbai express highway 60 percent work is completed.
- Working on many green highways.
- New road connectivity will change transportation from the capital.
- By the end of the year Delhi-Chandigarh and Delhi- Dehradun flights will be closed because of our efficient highways.
Moneycontrol Policy Next Live Updates: Infra industry is giving maximum GST to state and central government, says Nitin Gadkari
- Two-wheeler manufacturers already exporting 50 percent of production.
- Methanol can be a good alternative to diesel.
- We have given the approval to produce ethanol from dry rice, corn, and sugarcane.
- Hydrogen is the future, can make it using wastewater, and organic waste.
Moneycontrol Policy Next Live Updates: Infra industry is giving maximum GST to state and central government, says Nitin Gadkari
- A vision for futuristic development is important.
- We need to develop our economy in rural, agricultural, and tribal areas.
- Infra industry is giving maximum GST to state and central government.
Moneycontrol Policy Next Live Updates: RC Bhargava says a lot of investments are going towards Vietnam
- The experience of Indian partners with overseas partners has not been satisfactory
- A lot of investments are going towards Vietnam
Moneycontrol Policy Next Live Updates: RC Bhargava says if you want the manufacturing industry to grow, it has to be inclusive
- Most of the industry in India owner-managed. They don't operate with the motive to grow the industry and create an ecosystem.
- Seeing FDI in all sectors, except in manufacturing.
Moneycontrol Policy Next Live Updates: RC Bhargava, Chairman of Maruti Suzuki says several reforms have taken place since the last 9 years
- Manufacturing is a complex subject and views are different for different people.
- Japan attained manufacturing excellence in a democratic system.
- One company that followed the Japanese system was Maruti Suzuki.
Moneycontrol Policy Next Live Updates: Vijay Chhibber, Former Roads and Highways Secretary and Director-General, Energy Power Transmission says
- Logistics is a dynamic industry and the government should look to put in place a dedicated institution to address all issues that may arrive in the future.
- Integration of all central government ministries is key in improving cargo movement in India.
- The Indian Railways and Shipping Industry are still lagging behind in carrying cargo in India.
- India should set upa dedicated agency to work along with ministries and state governments to address issues of logistics in the country.
- Despite measures taken by the government road safety in India has not changed significantly since 2014.
Moneycontrol Policy Next Live Updates: Jaffrey Thomas of PwC India says
- The governmenthas started working to make data seamlessly available on the Unit Linked Insurance Plan (ULIP) platform under the NLP.
- Very soon, most organisationsin India will start using data under the ULIP platform under NLP.
Moneycontrol Policy Next Live Updates: Rishi Agarwal, CEO of Teamlease Regtech says
- Regulatory cholesterol has throttled entrepreneurship in India for years.
- Ease of doing business, and regulatory cholesterol alleviation are areas which are integral to any dialogue around the National Logistics Policy (NLP).
Moneycontrol Policy Next Live Updates: Vijay Chhibber, Former Roads and Highways Secretary and Director-General, Energy Power Transmission says
- The govt has put in a lot of effort to develop logistics infrastructure in India.
- Several state governments like UP, Karnataka, and Gujarat have taken several strides in developing logistics infrastructure.
- The recently launched National Logistics Policy will help push digitisation in the logistics infra segment in India.
- Despite the strides taken by the govt both digitally and physically, the policies are not enough to facilitate the movement of cargo in India.
- In order to facilitate faster movement of cargo in India, a collaboration between all stakeholders is important.
- India needs to establish an institutional framework to boost cargo movement in the country.
Moneycontrol Policy Next Live Updates: Kanika Tekriwal, Founder and CEO of private charter service JetSetGo says
- India doesn't have cargo airports or cargo air terminals near ports. The country needs to prepare and learn to move cargo faster by using airports.
- India needs to simplify its custom clearance to make it easier to import cargo.
- The govt should look at policy measures to promote domestic airlines to move cargo.
Moneycontrol Policy Next Live Updates: Jaffrey Thomas, Partner Logistics and Transport Infrastructure PwC says
- A couple of areas in the infrastructure space will require investment and policy push going forward.
- India will need to come out with policiesand investments to set up multi-modal logistics hubs.
- The government should also look at a policy push to promote cargo movement through Indian Railways.
Moneycontrol Policy Next Live Updates: Panel discussion commences
The panel of Vijay Chhibber, former roads and highways secretary and director-general, Energy Power Transmission; Rishi Agarwal, CEO, Teamlease Regtech; Kanika Tekriwal, founder and CEO of private charter service JetSetGo; and Jaffrey Thomas, partner, logistics and transport infrastructure at PwC India speak on "Gaining the edge on India’s national logistics policy."
Moneycontrol Policy Next Live Updates: Rajiv Kumar is confident that the current US banking issues will not affect India's banking sector
- If policy changes were only prospective and not retrospective, private investors will feel far more secure.
- We don't look enough at the services sector.
- All necessary conditions are in place for private investment to happen.
- The 2008 global financial crisis did not affect India's banking sector much. I think the same scenario will play out now.
- I am quite confident that the current US banking issues will not affect India's banking sector.
Moneycontrol Policy Next Live Updates: Infrastructure is, perhaps, the sector which has the biggest impact on the economy - Former NITI Aayog Vice Chairman Rajiv Kumar
- Once the rural infrastructure is in place, the kind of development will be very different.
- Infrastructure is perhaps the sector which has the biggest impact on the economy.
- It's a cliche, but India is the fastest-growing large economy in the world. And it will remain so.
- I am confident that India will be the epicentre of global growth.
Moneycontrol Policy Next Live Updates: Short-term political agenda will not interfere with India's infrastructure development - Former NITI Aayog Vice Chairman Rajiv Kumar
- We don't normally talk about telecom as infrastructure. But we should talk about infrastructure as having to do with connectivity, which meanstelecomtoo.
- The Prime Minister has been very clear that the short-term political agenda will not interfere with India's infrastructuredevelopment.
- The government must be doing something right for even The Economist to take note of it inarecentissue.
Moneycontrol Policy Next Live Updates: Former NITI Aayog Vice Chairman Rajiv Kumar says the growth model has to be to create jobs where people are
Kumar believes large-scalemigration in India is not sustainable hence India's growth model has to be to create jobs where the people are. Which, the country needs infrastructure to reduce the time to bring the output from distant areas.
Moneycontrol Policy Next Live Updates: Former NITI Aayog Vice Chairman Rajiv Kumar says the cost of logistics has to be brought down
- India faces the challenge of developing while becoming greener.
- Need to talk about innovations while developing infrastructure.
- The cost of logistics in India is about 14 percent whereas it's around 8 percent in the rest of the world. The cost of logistics has to be brought down.
- Infrastructure development in India cannot take place like it took place in the US.
- Infrastructure changes the whole economic geography of a country.
Moneycontrol Policy Next Live Updates: Got to include social sectors like education, health in infrastructure, says Rajiv Kumar
Former Niti Aayog Vice Chairman, Rajiv Kumar says
"Physical infra includes, railways, highways, seaports, waterways, energy. Growth with green is India's destiny. There is no other country in the history of the world that has developed its infrastructure while becoming 'greener'.
Moneycontrol Policy Next Live Updates: Rajiv Kumar breaks down the transformative impact of infrastructure on economies
Former Vice Chairman of Niti Aayog and Chancellor of the Gokhale Institute of Politics and Economics, Rajiv Kumar feels that India can and must grow by more than 6 percent per year going forward. He says, “OECD in 2012 estimated India's potential growth at 8 percent. Given all the reforms undertaken by the government over the last few years, I think India can grow by 8 percent in the coming year. This is not a hyperbole, but it will require hard work."
Moneycontrol Policy Next Live Updates: Standby for The Moneycontrol Policy Next Series
The stage is set for 'Moneycontrol Policy Next Series' of exclusive events in New Delhi. Watch it LIVE here.
To know what's lined up, take a peek here.
Moneycontrol Policy Next Live Updates: Delhi-Dehradun Expressway to be completed by the end of December this year
Meanwhile, in the North, Gadkari sees the construction work of the Delhi-Dehradun Expressway completed by the end of December this year.
The construction work of the Delhi-Dehradun Expressway is in full swing as it could accelerate the pace of the economy as well as travel and tourism. After the completion of the expressway, the journey time between the two cities will be reduced by two hours. Gadkari said that the Delhi-Dehradun Expressway project will be finished by December 2023, and added that it will be open for public use from January 1, 2024, which will help travellers reach Dehradun from Delhi in two hours, reported PTI.
Moneycontrol Policy Next Live Updates: Recently, Gadkari approved projects worth Rs 1,796.4 crore in West Bengal, Telangana
In a bid to develop roadways and highways, which have a giant contribution to the infrastructure scenario across the country, Gadkari approved road infrastructure projects worth Rs 1,796.4 crore in West Bengal, Telangana.
The ministry has approved a substantial budget of Rs 812.50 crore for the project of Widening-cum-Strengthening the existing alignment of National Highway (NH) – 116B in West Bengal, while it approved a project of developing a 4-Lane Access-Controlled Greenfield Highway section on the National Highway – 163G (Khammam to Vijayawada) in Telangana.
Moneycontrol Policy Next Live Updates: India's big infra bet for long-term growth
India has invested heavily in infrastructure in recent years. The onset of the coronavirus pandemic sparked a staggering increase in the government's capital expenditure, with the Budget for 2023-24 setting a new record target of Rs 10 lakh crore.
Big numbers in public investment are a new phenomenon; it is easy to forget that the Centre's capital expenditure was a mere Rs 3.36 lakh crore as recently as 2019-20.
Since then, things have moved rather rapidly, with the pandemic providing an opportunity to look into the future and not chase immediate and outsized growth rates. Read more in detail, here
Moneycontrol Policy Next Live Updates: India needs to invest $840 billion over the next 15 years into its urban infrastructure
According to a World Bank report from November, India needs to invest $840 billion over the next 15 years into its urban infrastructure to ensure that the needs of the urban population are met. Assuming an exchange rate of Rs 80 per dollar, this means an annual investment of nearly Rs 4.5 lakh crore on just urban infrastructure.
"Only 5 percent of the infrastructure needs of Indian cities are currently being financed through private sources. With the government's current (2018) annual urban infrastructure investments topping at $16 billion, much of the gap will require private financing," the World Bank noted.
Moneycontrol Policy Next Live Updates: Nitin Gadkari may shed some light on the delayed projects
National Highways make up a mere 2-2.5 percent of India's road network. Rural roads, which account for approximately 70 percent of all roads, are being constructed at a much faster rate – although that too has eased off from 133 kilometres per day in 2017-18 to 71 kilometres per day this year.
The decline in road construction rates shows the work is far from over. Minister of Road Transport and Highways Nitin Gadkari is expected to shed some more light on this matter at Moneycontrol's Policy Next summit.
Moneycontrol Policy Next Live Updates: Gadkari and the power-packed panel
Minister of Road Transport and Highways of India, Nitin Gadkari is set to kick off Policy Next Series today in the national capital. He will be accompanied by a power-packed panel which will include Vijay Chhibber, former roads and highways secretary and director-general, Energy Power Transmission; Rishi Agarwal, CEO, Teamlease Regtech; Kanika Tekriwal, founder and CEO of private charter service JetSetGo; and Jaffrey Thomas, partner, logistics and transport infrastructure at PwC India.
Moneycontrol Policy Next Live Updates: Welcome to the ‘Moneycontrol Policy Next Series’ live blog!
We are set to launch the curtain raiser on the exclusive series with the ‘The Rs 10 Trillion Infra Push’ which will be helmed by Nitin Gadkari.
Gadkari, the man behind India’s top infra projects like the Mumbai-Pune Expressway, will deliver the keynote address on ‘The highway of the future: My vision for India’.
