Quick News Bit

Minister Gadkari says government mulling to double retail component in NHAI InvIT bonds

0

Citizens can invest anything upward of ₹10,000 and get a return of 8.5% per annum on their investments, Mr. Gadkari said

Citizens can invest anything upward of ₹10,000 and get a return of 8.5% per annum on their investments, Mr. Gadkari said

Union Transport Minister Nitin Gadkari on Friday said the retail component in NHAI’s InvIT bonds will be doubled to 50%.

Speaking at a meeting held in Mumbai virtually, the Union Minister for road transport and highways said the debut issue of the National Highway Authority of India (NHAI) infrastructure investment trust (InvIT) got a good response, and every common citizen of the country can play a role in nation building by helping finance the infrastructure.

“We have reserved 25% of InvIT bond for retail investors. Now we are planning to increase this limit to 50%,” Mr. Gadkari said.

Citizens can invest anything upward of ₹10,000 and get a return of 8.5% per annum on their investments, Mr. Gadkari said, thanking the investor community for the over-subscription of seven times in the maiden bond issuance of ₹1,500 crore which listed last month.

Speaking to an audience comprising institutional investors, the Minister made a plea for more money saying the government’s resources are limited.

He stressed that all the projects being brought before the investors are financially viable ones with attractive internal rates of returns, and putting money into them will also help in nation building.

Citing various initiatives where there is a thrust on domestic alternatives which substitute imports, like mobile phone manufacturing through the production linked incentive scheme, Mr. Gadkari said there is a need to work together for “economic nationalism”.

“We wish to bring a cultural shift among the mindset of the people,” Mr. Gadkari said.

Stating that students are going out of the country for education, he said, we should create private institutions offering quality education within the country.

He said there is a need to have 10,000 water taxis in the country, which will create employment, help reduce pollution and also the cost of transportation.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment