Union Minister for Road Transport and Highways Nitin Gadkari said India would require $1 trillion (about Rs 67, 00,000 crore) for the development of ports, new roads and airports over the next few years. He also said that upgrading infrastructure is a "major challenge for the policy makers" of the country.
Speaking at the inaugural edition of Rajya Sabha Television's new flagship programme "Spotlight", the road transport minister said the NDA government is set to transform India's infrastructure sector and there is no lack of funds for doing so, Press Trust of India said.
"Money is not the problem, mentality is. Unfortunately we have a demoralised bureaucracy," Gadkari said.
Gadkari feels building and expanding the infrastructure sector would add 2 percent to India's GDP. He said companies in the road sector become victims to the government's requirement of multiple approvals and indecisiveness.
The minister had reportedly held several rounds of discussion with contractors and bankers over project approvals and land acquisitions. It was earlier reported that Gadkari was positive that his ministry would be able to clear pending projects worth Rs 25,000-35,000 crore within the next two weeks.
The transport ministry was constructing 18 km of roads every day and planned to increase it to 30 km per day by March 2016, Gadkari said. During the upcoming budget session towards the end of the month, Gadkari is expecting an additional allocation of Rs 15-20,000 crore for his ministry for FY 2016-17, Press Trust of India added.
"In the next five years we are going to change the infrastructure of this country. I know my work, I am doing it," he added.