The ministry for road transport is not facing any shortage of funds and is confident of achieving the road construction target for the current fiscal year, Union Transport Minister Nitin Gadkari said.
“You are all welcome to invest in the sector but I want to give out the message that I am not depending on anybody (for money),” Gadkari said at a Bloomberg event on Monday.
Speaking about where this money is coming, he said that his ministry’s budget is Rs 55,000 crore for the current fiscal, which will amount to Rs 2 lakh crore over the next three years.
In addition, the ministry can raise up to Rs 70,000 crore by issuing bonds and another Rs 1 lakh crore by monetisation of toll projects, he said. Further, ports are also generating profits, and project turnover in that segment is around Rs 4,000 crore.