The meeting assumes significance as the government after a series of meetings with bankers and developers had resolved issues pertaining to 58 projects but 20 projects worth over Rs 20,000 crore are still stuck.
Ministry of Road Transport and Highways associated with Hyundai’s initiative to Spread ...
"The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a one time fund infusion to revive and physically complete languishing NH projects," Communications and IT Minister Ravi Shankar Prasad said after the Cabinet meeting.
Under this policy, the government has made it mandatory to set aside one percent of the total project cost of any highways contract to a "Green Fund" corpus for plantation.
The Green Highways Policy scheduled to be launched by Union Transport Minister Nitin Gadkari on September 29 makes it mandatory for road builders to set aside 1 percent of the total project cost for plantation.
Speaking at a panel discussion on 'What is the role that the bureaucracy expects from public affairs professionals', Road Transport and Highways Secretary Vijay Chhibber said there is a need to address the basic issues in the system.
In India, a person is killed in a road accident every four minutes - 141,000 in 2014 - yet less than a third of the 2.6 million cars sold each year have air bags in this cost-conscious market.
Roads secretary Vijay Chhibber says 8000 km roads were awarded last year, and this year the aim is to award 10,000 km. The strategy, going ahead, is to award atleast 10,000-12,000 km every year, he says
CNBC-TV18 had learnt from sources that the two have been at loggerheads on the move to restructure stalled highway projects entailing premium revenue. The NHAI is against the government‘s move of selective project rescheduling.
For the current financial year, emphasis will be more on public funded projects. There are plans to award 7,000 kilometers by way of public funded projects and maybe around 3,000 kilometers by way of public private partnership projects.