(T.H)
The Union government is awaiting approval of the Securities Exchange Board of India (SEBI) for enabling common citizens to invest at least ₹1 lakh in infrastructure projects under a new model for asset monetisation, Road Transport and Highways Minister Nitin Gadkari said on Friday.
“Most of the pension funds and foreign investors are investing in the projects. But we should take the cooperation of Indian people, particularly those who can invest minimum ₹1 lakh in road projects, for which we have already developed a new model. We are awaiting approval from SEBI so that the common man can invest in NHAI (National Highways Authority of India). We are trying to give him an assured income of 7.5% to 8%,” Mr. Gadkari said at the “Countdown to Budget 2022” event organised by The Hindu BusinessLine, in association with BoB Financial, the credit card arm of Bank of Baroda, and Hitachi India.
“My interest is to give benefit to the poor people of this country, who can invest in their economy, because in India we have problems in pension, insurance and share economy. For that reason, if small people can invest in infrastructure and get 7.5% to 8% interest, it can be a great thing for them to contribute to infrastructure development and at the same time benefit from that,” the Minister said.
Speaking about the upcoming Union Budget, Mr. Gadkari said he was hopeful that the proposals will expedite the growth of the Indian economy to make it the largest economy in the world.
Mr. Gadkari said that Indian industry and entrepreneurs should seize the opportunity arising from the “problems” facing China and “go for more exports” riding on the back of talent, availability of raw materials, power, and good infrastructure, to make the economy strong.
