Will turn to PPP again after six months: Gadkari
C‘Delhi ring bypass to become operational in two months’
27 September 2017: New Delhi
Sudhir Jalan, Co-Chairman, Diamond Jubilee NMC and Chairman, Neo Foods Pvt Ltd; Nitin Gadkari, Minister of Road Transport & Highways; Shipping and Water Resources, River Development and Ganga Rejuvenation Government of India and Sunil Kant Munjal, President, AIMA and Chairman, The Hero Enterprise
Baba Ramdev, Yoga Guru and Founder, The Patanjali Group of Institutions and Rajat Sharma, Chairman and Editor-in-Chief, India TV at Aap Ki Adalat at AIMA
The government will revive the PPP mode for infrastructure projects in six months, says Nitin Gadkari, Minister of Road Transport & Highways; Shipping and Water Resources, River Development and Ganga Rejuvenation. The Rs 5-6 lakh crore of EPC projects have improved the financial health of the contractors and investors but they still need some more time to recover, he told National Management Convention of All India Management Convention.
Gadkari also said that a Rs 38,000 crore project is in the works to rid Delhi of its traffic problems. He said that the ring bypass around Delhi will be operational in two months and 50% of Delhi’s traffic jams and pollution will disappear. He informed that by December, electric motorcycles and rickshaws will be introduced in the capital. He also said that he would bring a law to fine car parking on roads and will pay 10% of the Rs 500 fine to those who would take pictures of such parking and send it the government.
Waterways are the top priority of the government, Gadkari said and informed that the Farakka Barrage repair had begun as part of the developing a 45-meter wide waterway between Varanasi and Haldia with a 3 meter draft. He added that the Brahmaputra waterway would be extended to Bangladesh to enable exports to Bangladesh and Myanmar. The agreements were in place and dredging had begun at Chittagong.
Speaking at the convention, Baba Ramdev, Founder, Patanjali Group promised to create 500,000 jobs in the next five years. He also declared that he will make Patanjali the biggest FMCG brand in the world by 2020-21 after making it the biggest FMCG brand in India in 2018-19. He announced that Patanjali is expanding its production capacity from the current Rs 40,000 crore output to Rs 1 lakh crore in the next two years. He made these announcements during a live Aap Ki Adalat programme with India TV’s Rajat Sharma at the National Management Convention of All India Management Association.
“I want to free India from corporate colonization,” Baba Ramdev said albeit, he added that he did not want the MNCs to shut shop and leave India. He said that Patanjali would export to China so that India should also make some money from China, which is using the money made from trade with India to finance terrorists in Pakistan and cause trouble at Doklam.
Speaking at the convention, Raamdeo Agrawal, Raamdeo Agrawal, Jt. Managing Director, Motilal Oswal Financial Service said that India was poised to see a savings boom worth 12 trillion dollar over the next 10 years and that would ensure great growth in the financial services and consumption sectors.
Commenting on the IPO rush and the simultaneous correction in the market, Agrwal said that it was a result of supply increase. “There is froth in the IPO market. High stock prices are driving IPOs while the foreigners, the promoters and the government are selling,” he said. He argued that the market needs the corporate profits to revive as those have fallen to a ten year low of 2.9% of the GDP, well below the 10-year average of 4.8%.
Regarding the proposed economic stimulus of the government, Agrawal said, “Stimulus is not required by good companies. Good companies do well in bad times. Bad companies need support. Moreover, companies need less stimulus and more of a conducive business environment. They need a predictable working environment,” he said.
Rakeysh Omprakash Mehra, Film writer, director, producer also addressed the National Management Convention and he predicted that the online entertainment was global and unless Indian film industry woke up and created content that was as powerful and entertaining as the best in the world, somebody else will make it and capture their market in India. “A lot of programming will be available from all over the world,” he said.
Regarding piracy, he said that the complaints about piracy were unjustified because it was a more a result of the industry’s failure to monetize the market at a lower price point. He said that the future of Indian cinema depended on corporate investment and the people from small towns telling their stories to the world.
About All India Management Association (AIMA)
The All India Management Association (AIMA) is the national apex body of the management profession in India. AIMA is a non-lobbying organisation, working closely with Industry, Government, Academia and students to further the cause of the management profession in India. AIMA makes a constructive contribution to management learning and practice in the country by offering various services in the areas of testing, distance education, research, publications and management development programmes.
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