Citizens can invest anything above ₹10,000 and get a return of 8.5% per annum on their investment, Shri Gadkari said,
Citizens can invest anything above ₹10,000 and get a return of 8.5% p.a. on their investment, Mr Gadkari said,
Union Minister Nitin Gadkari on Friday said that the retail component in NHAI’s InVIT bonds will be doubled to 50%.
Speaking at a meeting held virtually in Mumbai, the Union Minister for Road Transport and Highways said that the first issue of Infrastructure Investment Trust (InVIT) of the National Highways Authority of India (NHAI) has received a good response, and every common citizen of the country can do so. Play a role in nation building by helping in infrastructure financing.
“We have reserved 25 per cent of InvIT bonds for retail investors. Now we are planning to increase this limit to 50 per cent,” Gadkari said.
Citizens can invest anything above ₹10,000 and get a return of 8.5% per annum on their investment, said Mr Gadkari, calling on the investor community to oversubscribe by seven times in the first bond issue of ₹1,500 crore Thanks, that’s the last month listed.
Speaking to an audience consisting of institutional investors, the minister sought more funds, saying the government’s resources are limited.
He emphasized that all the projects being brought before the investors are economically viable and have attractive internal rates of return, and investing money in them will also help in nation building.
Citing various initiatives where the emphasis is on domestic alternatives that replace imports such as mobile phone manufacturing through a production-linked incentive scheme, Shri Gadkari said there is a need to work together for “economic nationalism”. Is.
“We want to bring about a cultural change among the mindset of the people,” said Shri Gadkari.
Stating that students were going outside the country for education, he said, we should create private institutions providing quality education within the country.
He said there is a need for 10,000 water taxis in the country, which would generate employment, help reduce pollution and also reduce the cost of transportation.