




The Ministry of Road Transport and Highways (MoRTH) will award road contracts worth Rs 3 lakh crore in 2024-25 despite a slow start in the current financial year so far, union minister Nitin Gadkari said.
The comments come days after Gadkari said he was approached with an offer to back his candidacy for the prime ministerial post ahead of the 2024 Lok Sabha elections, but he rejected the offer
Although Gadkari did not name the politician behind the offer, it is known that the INDIA alliance, a coalition of opposition parties, has frequently praised the senior BJP leader, who represents Nagpur in the Lok Sabha.
The government's plan to buy back the bonds to cap the capital expenditure in the roads and highway segment. The govt is also keen to award projects above Rs 500 cr under the PPP mode as they have proved to be of better quality and are less expensive, compared to govt-funded projects, said an official.
Noting that the National Vehicle Scrappage Policy is a win-win for all stakeholders, the minister said that India can be a scrapping hub in South Asia as it will help automobile companies reduce their raw material costs and will help India reduce the import of steel.
Today, India has 6,000 CNG fuel stations and the country aims to ramp it up to 20,000 by 2030, Nitin Gadkari said.
While the road minister did not name Maruti Suzuki directly, his comments painted quite a clear picture.
During his address, the minister also urged automobile companies to contribute to road safety initiatives through their corporate social responsibility (CSR) programs.
The development comes after report that the ministry is now pushing for individual road projects after its flagship scheme Bharatmala has been put on backburner
Cost overruns, lack of consensus are leading to delays. The ministry is hoping to get funding and approvals for one project at a time.
Gadkari said that the Central government needs to find a solution to India's huge fossil fuel imports, but clarified that it won't lead to taxes on petrol and diesel cars.
Gadkari said 50,029 people lost their lives in accidents in the country in 2022 when they were not wearing helmets
Stainless steel should be used in the construction of bridges built close to the sea. If stainless steel had been used for the statue of Chhatrapati Shivaji, it would have never collapsed, says Gadkari.
Business News Highlights: The IPO will consist entirely of an offer-for-sale (OFS) of 3.2 crore equity shares, with no fresh issue component. Shares will be sold by four investors—Multiples Alternate Asset Management, Narotam Satyanarayan Sekhsaria, RBL Bank, and Easyaccess Financial Services—as well as by promoter Dharmesh Anil Mehta.
Flex-fuel-compatible cars can run on more than one type of fuel and also on a mixture.
Gadkari spoke about Nagpur's innovative waste management practices during the event. Gadkari revealed that the city's civic body earns Rs 300 crore annually by treating sewage and selling it to nearby industries.
Buyers of new vehicles holding a valid 'Certificate of Deposit' from any recognised scrappage center can receive incentives ranging between 1.25 percent to three percent of the base vehicle cost of a vehicle with payload or seat capacity equivalent to the scrapped unit
Representatives of Hero Moto, Honda Motor, TVS Motor and Bajaj Auto have reportedly told Minister Gadkari they are ready to start production of flex fuel two-wheelers, and have also sought a lower cost of fuel for such type of vehicles.
While Amit Shah remains the top choice as Modi's successor within the BJP, Shivraj Singh Chouhan's popularity has seen a sharp rise since his induction in the Union Cabinet, the survey adds.
The escalated cost of Bharatmala has been a cause of concern, and the Union Finance Ministry told MoRTH in 2023 not to award any new project under the scheme till there is Cabinet approval on the revised cost of the project.