Small medium enterprises, Organization type

Union Minister Nitin Gadkari has a simple mantra at hand, build more, build faster while maintaining all precautions to beat the Covid-19 induced economic slowdown.Gadkari, the Union Minister for Minister of Road Transport & Highways, Micro, Small & Medium Enterprises, in an exclusive interview with , talked about a massive push to infrastructure creation as a means to mitigate the economic fallout of the Covid-19 pandemic and to accelerate growth.In essence, the minister aims to attain a faster pace of highway construction, boost the Bharatmala Pariyojana programme, and aid the MSME and the auto sectors, among others.Lately, Gadkari has been in touch with various stakeholders spanning multiple sectors via video conferencing to devise the strategies to re-start the clogged road networks, rescue the stranded truck drivers and allow limited construction activity.At present, India is under a more relaxed form of lockdown which will last till May 17. However, ratings agencies have cut the country's GDP forecast on lack of economic activities.Besides, many companies have instituted pay cuts and have downsized their workforce.The circumstances are set to trigger a recessionary cycle, even though India has not been hit very hard by the actual pandemic due to the early preventive measures adopted by the Centre.However, the lockdown to curb the spread of the virus has had an adverse impact on the country's economy.The lockdown has dealt a heavy blow to commerce leading to temporary closure of shopping malls, dine-in restaurants, grounding of aircraft, shutting down of factories, leaving the major market places deserted.Not just sectors such as airlines, tourism, hotels and automobiles, but even the government's own revenue accretion has been impacted.Particularly impacted are the MSMEs. The sector is essentially the backbone of the economy.Consequently, Gadkari has come out with a plan to revive the economy while keeping all health related safeguards of social distancing in place.According to Gadkari, the Centre will not hesitate "to take any decision required to bring complete transparency, remove bottlenecks and introduce fast-track highway development"."A lot of projects are of national importance and immediate start of work on these projects is very important. But we also understand the intensity of this pandemic. I have reviewed the present scenario," the minister told ."Wherever we can gradually open construction works in identified zones with the permission of the local administration, we shall certainly do so. We are exploring the possibility of restarting works as soon as possible."However, we are only looking at allowing those works to start where standard social distancing norms can be followed and highest standards of hygiene and safety are adhered to," he said.In terms of highway development, the minister said: "Though we are hit by the Covid-19 pandemic, we aspire to maintain the momentum of last year and our targets for construction in FY 2020-21 are slightly more than last year at 10,250 km.""Similarly, for awarding of new works, we have a target of 12,650 km," he added.When asked about the process of reviving the BOT( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Trump Tarrifs

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Small Medium EnterprisesFOLLOW

Small medium enterprises, Latest News

Business :SpiceJet launches cargo services to various NE cities

New Delhi, Sep 16 Airline major SpiceJet on Wednesday said it has launched 14 new cargo flights to ... ...

National :Gadkari expresses confidence about increasing MSME exports, creating more jobs

Union Minister Nitin Gadkari on Sunday expressed confidence that the government will increase Micro, Small & Medium Enterprises (MSMEs) exports to 60 per cent from 48 per cent in the next 5 years and will create 5 crore jobs in the next 5 years. ...

Business :Build more, build faster with precautions to beat Covid induced slowdown: Gadkari (IANS Exclusive Interview)

Gadkari, the Union Minister for Minister of Road Transport & Highways, Micro, Small & Medium Enterprises, in an exclusive interview with , talked about a massive push to infrastructure creation as a means to mitigate the economic fallout of the Covid ...