Nitin Gadkari pitches NHAI bonds to retail investors, promises higher returns
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Union Transport Minister Nitin Gadkari on Wednesday made a big pitch for channelising small savings into the infrastructure sector, saying the bond issues being planned by the National Highways Authority of India will fetch much better interest rates to retail investors than bank savings.
Gadkari was addressing a gathering at an event in New Delhi that marked the 25th anniversary of the National Stock Exchange.
"We are looking at an 8 per cent kind of yield, but won’t mind making it even higher," he asserted.
The NHAI is aiming to raise around Rs 62,000 crore through bonds this year. It raised about Rs 52,000 crore during 2017-18.
“Invest with us and we will give you a far better yield than bank savings,” Gadkari said, adding that his ministry has numerous avenues to invest the money and earn big profit for investors.
The minister made the point that his ministry has already invested Rs 10,000 crore in the road sector so far this year while 58 projects are waiting for financial closure.
The Rs 7.5 lakh crore Bharatmala project, Gadkari said, is ready for take-off while the inland water shipping project has started in 10 rivers.
Gadkari was addressing a gathering at an event in New Delhi that marked the 25th anniversary of the National Stock Exchange.
"We are looking at an 8 per cent kind of yield, but won’t mind making it even higher," he asserted.
The NHAI is aiming to raise around Rs 62,000 crore through bonds this year. It raised about Rs 52,000 crore during 2017-18.
“Invest with us and we will give you a far better yield than bank savings,” Gadkari said, adding that his ministry has numerous avenues to invest the money and earn big profit for investors.
The minister made the point that his ministry has already invested Rs 10,000 crore in the road sector so far this year while 58 projects are waiting for financial closure.
The Rs 7.5 lakh crore Bharatmala project, Gadkari said, is ready for take-off while the inland water shipping project has started in 10 rivers.