Page 27 - Nitin Gadkari

NHAI InvIT looks to raise additional Rs 3,800 cr: Minister Nitin Gadkari

National Highways Infra Trust (NHAI InvIT) is looking to raise additional Rs 3,800 crore, Road Transport and Highways Minister Nitin Gadkari said on Thursday. Addressing an event organised by National Highways Infra Trust, Gadkari said that of the additional fundraise, around Rs 1,500 crores are being garnered through an issue of non-convertible debentures (NCDs) with a long-dated maturity of 24 years. These InvIT bonds will be listed on BSE and NSE providing an opportunity for investors to invest and trade, he added. NHAI InvIT is the infrastructure investment trust sponsored by the National Highway Authority of India (NHAI) to support the government's National Monetisation Pipeline (NMP). Gadkari said that the InvIT, so far, has raised more than Rs 8,000 crore from foreign and Indian institutional investors.Infrastructure Investment Trusts (InvITs) are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flo

Gadkari launches Toyota's pilot project on flex fuel-strong hybrid EV

Union minister Nitin Gadkari on Tuesday launched Japanese car maker Toyota's first-of-its-kind pilot project on flex fuel-strong hybrid electric vehicle (FFV-SHEV) that can run on 100 per cent ethanol. During the launch, the Toyota Corolla Altis FFV-SHEV, which has been imported from Toyota Brazil for the pilot project, was unveiled. Speaking on the occasion, Union Road Transport minister Nitin Gadkari said pollution is a big concern in India and the transport sector is contributing to pollution. "Therefore, there is a need to encourage use of electric vehicles and vehicles that run on biofuels like ethanol and methanol," he added. Besides Gadkari, union ministers Mahendra Nath Pandey, Bhupinder Yadav and senior officials of Toyota Kirloskar Motor were present at the event. In Brazil, flex fuel-strong hybrid electric vehicle technology has been introduced by Toyota Brazil. An FFVSHEV has a flex-fuel engine and an electric powertrain, thus providing dual benefit of higher ethanol

Top headlines: World stocks at 2-year lows; Mulayam cremated in Saifai

There was a modest respite for Britain's battered bond market after the Bank of England said it would start purchasing inflation-linked debt

Centre will make UP's road infrastructure equivalent to USA, says Gadkari

Union Road Transport and Highways Minister Nitin Gadkari on Saturday said that before the end of 2024, the centre would make the road infrastructure of Uttar Pradesh equivalent to that of the USA

Gadkari announces projects worth Rs 7,000 crore for Uttar Pradesh

Union Road Transport and Highways Minister Nitin Gadkari on Saturday announced projects worth Rs 7,000 crore for Uttar Pradesh and said that by 2024, the road infrastructure of the state will be at par with that of the US. After the inauguration of the 81st session of the Indian Road Congress (IRC), Gadkari said a total of Rs 5 lakh crore will be invested on roads in Uttar Pradesh before 2024, an official release said. Stating that a gift of Rs 7,000 crore is being given to Uttar Pradesh, he said this includes the Shahabad bypass-Hardoi bypass of Rs 1,212 crore, Shahjahanpur to Shahabad bypass of Rs 950 crore, Moradabad to Kashipur National Highway (Rs 2,007 crore), 13 railway over bridges (Rs 1,000 crore), among others. Gadkari said that by 2024, the road infrastructure of Uttar Pradesh will be at par with that of America. For achieving the target of USD 5 trillion economy, as directed by Prime Minister Narendra Modi, the road network is most important, Gadkari said. The need of

National Highways Infrastructure Trust issues Rs 1,500-crore NCDs

Minister Gadkari had said will tap public funds for highways

How to change the address on your vehicle's RC online? Check details here

There is a penalty if the vehicle owner fails to intimate the new address to the registering authority within the specified period of time

India can become 'super economic power', says Union Minister Nitin Gadkari

Union Transport Minister Nitin Gadkari on Friday said that India can become a "super economic power" given its economic potential. He was speaking on the topic "India's Growth" at an award ceremony organised by Pune Mirror, an English daily. As much as 52 to 54 per cent growth in the country comes from the service industry, 20 to 24 per cent from the manufacturing industry and agriculture and allied sectors contribute 12 to 14 per cent growth, he said. "India is the fastest growing economy....I feel there is huge potential for the Indian economy and we can become a super economic power," he said. The industrial growth in urban areas is good but it lags in rural and tribal areas and in agriculture, he noted. "So the most important challenge before the Indian economy is how we are going to create an economy which is going to create more employment potential," he said. "We are importing petrol and diesel worth Rs 17 lakh crore and creating pollution in the country. We can diversify

Nitin Gadkari urges Mercedes-Benz to increase car manufacturing in India

Union Minister Nitin Gadkari on Friday asked German premium car maker Mercedes-Benz to produce more cars locally and emphasised that such a move reduces the cost besides increasing affordability. Speaking at the rollout of Mercedes-Benz India's first locally assembled EQS 580 4MATIC EV from its Chakan manufacturing facility in Pune, Gadkari, who is the Minister for Road Transport and highways, said that there is a huge market for electric vehicles in the country. "You increase the production, only then it is possible to reduce cost. We are middle-class people, even I can't afford your car," the minister said. The latest EV from the German car maker comes with a price tag of Rs 1.55 crore. The EQS 580 joins the company's EQC SUV and AMG EQS53 4MATIC flagship EV. Mercedes-Benz India started its electro-mobility drive in India with the launch of its all-electric SUV EQC as a fully imported unit in October 2020 priced at Rs 1.07 crore. There are a total of 15.7 lakh registered electr

Ensure speedy implementation of public transport tracking system: Gadkari

Union Road Transport and Highways minister Nitin Gadkari has urged states to ensure speedy implementation of public transport tracking system under the Nirbhaya Framework, according to the minutes of the annual meeting of the Transport Development Council (TDC). Gadkari also spoke about the aspects of road safety audit and suggested that the audits can be fast-tracked by engaging professors of from polytechnics, technical institutes and young students after giving them due training about the standards. "He (Gadkari) urged all the States/UTs to ensure speedy implementation of the scheme for setting up Monitoring Centres under Nirbhaya Framework which will give the much needed impetus to the women safety," the minutes of the meeting of the 41 st TDC meeting said. The Road Ministry earlier had mandated vehicle location tracking (VLT) device and emergency buttons be fitted in all public service vehicle w e f from April 1, 2018, which was re-examined and it was decided to give exemption

Relief for automakers as govt defers six airbags rule to Oct 2023

Nitin Gadkari cites 'global supply chain constraints' as reason for the shift in decision

Top headlines:Deadline for 6 airbags extended; Gehlot out of Cong Prez race

The government said on Thursday it is deferring until October 2023 the implementation of norms mandating six airbags in all cars, giving the industry a one-year extension

Centre extends deadline for mandatory six airbags in cars to Oct 1, 2023

Earlier in September, MoRTH has issued draft rules to make it mandatory for car makers to install alarm system for rear seat belts

Reduce sugar production, focus on ethanol: Gadkari tells sugar mills

He also argued that the sugar industry should try to create avenues through which ethanol could be sold directly to the automobile industry

Efforts on to improve road engineering, auto manufacturing: Gadkari

Union minister Nitin Gadkari on Tuesday said that efforts are being made to improve road engineering, automobile manufacturing and emergency services, and cooperation of all stakeholders is necessary to improve road safety. The government is also planning to conduct road safety audit in order to improve the quality of roads and reduce accidents, the minister of road transport and highways said. Speaking to the reporters on the sidelines of AIMA National Management Convention, the minister also termed the death of former Tata Sons chairman Cyrus Mistry earlier this month as "very unfortunate" and shocking. On road safety, he said, the education and cooperation of people is very important and various initiatives through campaigns and advertisements are being taken to improve safety of people on the road. "....road safety is the highest agenda for all of us," Gadkari said. The minister also said that on September 28 he will kick off a trial project involving Toyota's new car that wil

E-challan in Delhi: How to check status and pay traffic fines online

The penalty can be paid either offline or online, depending on the facility provided by the city/state in which the traffic offence was committed

National Logistics Policy to boost ease of doing business: Gadkari

Union minister Nitin Gadkari on Saturday said that the National Logistics Policy which focuses on re-engineering, digitisation and multimodal transport, would further boost 'ease of doing business' for all industries and stakeholders. The road transport and highways minister in a tweet further said the policy will completely change India's logistics sector, boost seamless movement of goods and reduce carbon footprints. Prime Minister Narendra Modi on Saturday unveiled the National Logistics Policy that seeks to address challenges facing the transport sector and bring down the logistics cost of businesses from 13-14 per cent to a single digit. At a grand launch event, Modi said the policy aims to expedite the last-mile delivery, helping businesses save time and money. While the new policy addresses challenges of the logistics sector, it together with the infrastructure augmentation plan PM Gati Shakti will address gaps, the prime minister added. The Union government has been workin

Need to reduce logistics cost in India to boost growth: Nitin Gadkari

Union Minister Nitin Gadkari has said there is need to reduce logistics costs in the country, which is higher than that of China, the US and European countries. The idea is to make waterways as a popular mode of transport for passengers and goods as this will help in bringing down the import cost of petrol and diesel, which is around Rs 16 lakh crore for the country annually, he said. "Our first priority is waterways, second railways, third road and lastly aviation. Bringing down logistics costs will help in generating employment in the country," he said at a programme organised by Young Indians and the Institute of Chartered Accountants of India on Friday evening here. Logistics cost in India as a percentage of GDP is 16 per cent, which is very high, he said, adding that it is ten per cent in China, and nearly eight per cent in the US and Europe. Gadkari, the minister of road transport and highways, said the Prime Minister Gati Shakti programme will help in coordination among vari

How to scrap an old car: Here're RTO rules for scrapping, deregistration

Nitin Gadkari says people opting for scrapping should get a discount on new vehicles

Nitin Gadkari lays foundation of 7 NH projects worth Rs 1,128 cr in Gwalior

Union Minister for Road Transport and Highways Nitin Gadkari inaugurated and laid the foundation stone of seven National Highway projects with a total length of 222 km in Gwalior worth Rs 1,128 crore