'Ready-to-launch projs worth 3lakh cr to bolster infra growth'

To bolster infrastructure growth, the government is creating a shelf of ready-to-launch projects worth over Rs 3 lakh crore after rolling out Rs 1.8 lakh crore out of Rs 2.8 lakh crore worth projects stuck on account of various hurdles, Road Transport and Highways Minister Nitin Gadkari said today.
"In our shelf, we are going to have 500 projects worth more than Rs 3 lakh crore ready with processes like land acquisition, forest clearance and other clearances. A separate section has been created to make detailed project reports (DPR), Gadkari said addressing an Infrastructure summit, organised by Indo American Chamber of Commerce (IACC) here.

Putting the onus for poor development of the sector on the previous UPA regime, Gadkari said the sector was hit hard during the last decade owing to faulty policies.
But corrective measures were on, resulting in launch of Rs 1.8 lakh crore of stuck projects out of Rs 2.8 lakh crore.
These projects were stuck due to regulatory hurdles and delays in land acquisition.
Out of the remaining Rs one lakh crore projects, the contractors wanted golden handshake for Rs 50,000 crore projects, he said and added that now two project monitoring groups were functional in the Ministry including one to keep a vigil on all ongoing highways projects.

"Not only a mechanism to solve all discrepancies are in place but a justified model concession agreement will be in place soon," he said adding that issues like forest clearances had been expedited while railways had cleared 74 rail over bridge (ROB) projects out of 282 pending.

The Minister said a system of online clearance system was in place.
Steps for building of long-durable concrete roads was on while the government has already notified use of iron ore slags in road construction, which would be cost-effective, he said.
The Minister exuded confidence that not only his Ministry will achieve 30-km a day road building target but would contribute two per cent to the GDP in coming years.

Gadkari said electronic toll system would be installed pan-India which is expected to result in a saving of Rs 86,000 crore annually including Rs 60,000 crore due to fuel loss as a result of delays.
"My ministry has ambitious plans to generate revenue including laying of optical fibre, gas, power transmission and other lines across one lakh km stretch of National Highways....I had a talk with GAIL chairman for gas pipeline," Gadkari said.
At the same time, he added his government was according highest priority to waterways and that a new Bill which will vest power to Shipping Ministry for converting any river into waterway was ready.

This would be a much cheaper mode of transport barely costing paise 50 for a km in comparison to Rs one by railway and Rs 1.5 through highways, he said.