India’s revenue receipts to reach Rs 30 lakh cr in 2 years: Gadkari
|Source: The Hitavada Date: 05 May 2017 09:15:06|
WITH demonetisation, a GST regime and efforts to augment infrastructure, India’s revenue receipts could touch Rs 30 lakh crore in the next two years, Union Minister Nitin Gadkari said on Thursday.
Inaugurating the maiden India Integrated Transport and Logistics (IITL) Summit here that saw various Government departments join hands on a single platform, the Road Transport, Highways and Shipping Minister Nitin Gadkari said that the Government is working on an integrated transport policy and creation of world-class infrastructure could propel India on the path of development and wipe out poverty.
“Post-demonetisation and GST regime, India’s revenue receipts are likely to touch Rs 28-30 lakh crore in the next two years coupled with steps to strengthen infrastructure,” Gadkari said.
At the time the Narendra Modi-led National Democratic Alliance government took over in 2014, the revenue receipts were at Rs 13 lakh crore which could scale up to Rs 20 lakh crore during the three years of the present regime, the Minister said.
He also stressed the need for an integrated approach and policies to bolster economic growth saying two digit GDP growth was attainable on creating world-class infrastructure.
The Minister said that to wipe out poverty and bolster economy, an integrated policy for various infrastructure sectors is top on the Government’s agenda that includes holistic development of a massive network of roads, ports, rail and aviation.
“If we have to wipe out poverty, if we want to achieve double digit growth, we will have to augment our infrastructure in an integrated manner and we are focusing on developing a network of waterways, railways and highways,” he said.
His Ministry, Gadkari said, was taking the length of National Highways to 2 lakh km soon and is committed to achieve a target of building 40 km of roads a day from the present 23 km.
Thirteen expressways are on the anvil and work has been initiated on five of them with a target of completing the Rs 12,000 crore Eastern Peripheral Expressway by August 15 this year.
The Minister said that 13,000 roadside amenities like rest areas for drivers, restaurants etc were on the works with tenders for 70 already received.
Efforts are on to build world-class highways so that trucks in India can soon drive about 350 km a day. Due to poor infrastructure, trucks here can manage about 225 km a day compared to about 800 km a day in the US and 350 km in China.
The Minister said that the three-day summit, which got underway today, would garner Rs 2 lakh crore investment.