Increasing Liquidity for MSMEs is our Priority: Nitin Gadkari

Minister for Road Transport & Highways and Micro, Small and Medium Enterprises, Shri Nitin Gadkari addressed Outlook Business Leading Edge 2021 – “Regaining Growth” on through video conferencing. Sharing his insights on how India is getting back on path of economic progress after Corona times, Shri Gadkari said, “The government has already announced a package of three lakh crore rupees for MSME sector and we are trying our level best to increase liquidity into the market."  He said that “We are in process of encouraging MSMEs, with good track record of last five years in terms of bank turnover, GST, income tax and based on balance sheet, to raise capital from capital market”.

Talking about various public welfare schemes of the Central government, Shri Gadkari said, “Through several welfare schemes, the government is creating more productivity in the country”. The Minister said that “we are trying to make the ethanol-economy from present size of 20,000 crore rupees to two lakh crore rupees”. He said that the government is increasing the expenditure on infrastructure. Highlighting the importance of the development of waterways, water transport, sea transport, Shri Gadkari said that “by developing the waterways, we are going to reduce logistical cost”.

The Minister said, “We are trying to convert transport on electricity like going for electric trucks, electric mass rapid transport, creating public transport on electricity”. Laying emphasis on rural economy, Shri Gadkari said that “we need to boost the rural economy and by increasing liquidity in the market, we are going to create more employment potential”. Mentioning the rebound of the country’s economy, the Minister said that “for last two months, the growth rate is going in a positive direction and within six months, it is going to be in a very good position”. Shri Gadkari said that “in the budget, road transport has been given the highest priority and an amount of Rs.1,18,000 crores has been sanctioned for Road and Transport in the budget”. Hailing speed of road construction in India, Shri Gadkari said that “presently, a record-breaking 34 kilometres per day of road is being constructed, making India second-biggest road network in the world”. The Minister said that “our priority is 115 aspirational districts and rural, agriculture and tribal economy and the government is working exactly on these lines”.

Shri Gadkari said that “for increasing liquidity in the market, the government is supporting with the capital and now we are increasing our spending on infrastructure and it will create liquidity in the market along with creating job potential”. The Minister said that “by accepting ethanol, methanol, bio-diesel, bio-CNG, electric and hydrogen fuel sale as a fuel, and under as per declared scrapping policy, we will make the automobile industry of 4,50,000 crores to 10 lakh crore rupees within five years”. Accepting the situation as problematic and challenging, due to Covid-19, the Minister exuded confidence that “with the positive attitude and self-confidence, we will definitely win war against Covid-19”. Suggesting the automobile industry to adopt Make in India and Made in India, the Minister said that there should be no import of auto components and 100 per cent of components should be made in India at a reasonable price. He said that “by accepting new technologies, we are going to create new markets, more profits, turnover, and more employment potential in the country."

The Minister said that “this is the time to resolve problems of small MSMEs, village industries, handlooms, handicrafts people, Khadi people on priority basis”. Talking about the ways to revitalise the MSME sector, Shri Gadkari said that “our idea is to increase production, reduce the logistical cost, get into the international market and give priority to village industries”. He listed as his highest priority to increase the turnover of village industries with Khadi Gramodyog from present 88,000 crore rupees to five lakh crore rupees within five years.