Chiding bankers for delaying loan proposals for road projects, Union Transport Minister Nitin Gadkari on Tuesday wondered why they did not exercise the same caution earlier when the sector was facing difficulties. Giving details of how his ministry had worked to reduce the number of pending projects, Gadkari said he had saved the banks from billions of rupees of bad loans by faster clearances. When he took the office in May 2014, there were 403 stuck projects with an underlying investment of Rs 3.86 trillion, which had now come down to just eight projects, Gadkari said. "I would request all of you to invest in the road sector. We've a lot of potential, we've increased the road length, economic viability is good, internal rate of return is good," he said.

Source: dna September 27, 2016 17:53 UTC