To power ambitious highway growth plans, NHAI will soon come up with a bonds issue offering attractive coupon rates of above 7 per cent, Union Minister Nitin Gadkari said today, urging the common man to invest in it rather than in chit funds and other such schemes.
“We have decided that NHAI will raise funds from the poor… We will try to give 7.5 per cent to the common man and 7.75 per cent to women, those above 60 years and defence personnel. They will get interest for 10 years. Monthly interest will be submitted to their accounts,” Gadkari, the Road, Transport, Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Minister, said here.
Gadkari said his ministry will soon begin work on Rs 7.5 -lakh-crore highway projects under Bharatmala.
He was addressing a ceremony to award certificates for skill development to workmen from highways construction sector and launch a programme for imparting skill development to one lakh workers here.
“I will urge workers and the poor to not to invest in chit funds and other such schemes. Those labourers, constables, journalists, people doing small jobs … we will seek their investment in NHAI bonds. Those in Defence Services, woman and above 60 years old we will give more interest to them. We are still to finalise it,” he said.
The minister said NHAI bonds have a rating of AAA and the 10-year bonds offer much lucrative prospects. Read More…
Invest In NHAI Bonds With 7.5% Coupon Rates: Gadkari To Workers added by The Times Of India on
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