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Govt working on ways to address various issues for highway projects: V K Singh

31 Oct 2019 Evaluate

The Minister of State for Road Transport and Highways V K Singh has said that the government is working on ways to address various issues, including financing, for basket of highway projects worth Rs 15 lakh crore. He noted that infrastructure and highways is the most profitable sector and can propel the growth of economy. About financing issues, he said the ministry is seriously looking at roping in insurance as bank guarantee for projects.

The minister further said that amid talks of slowing global economy, highways sector has the potential to revive growth citing how the US survived economic depression. He said during 1930s (Great) Depression, the US survived because it built road infrastructure, which spurred steel industry, cement industry, automative, labour market. He also said 'everybody is talking about economic slowdown which is a global phenomenon but in this slowdown if we want to spur the growth then the sector which must receive attention is infrastructure and especially the road infrastructure sector.”

Singh further said that there is need to monetize road-side amenities to address financial challenge. He also pointed out that the good road connectivity is key for driving economic and social development of a country as roads are the engines of the economy enabling seamless movement of people and material across the length and breadth of the country. 

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