Capital investment is not about wealth creation, but about generating employment: Gadkari

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Prime Minister Narendra Modi’s government impetus on capital investment has played a significant role not only in wealth creation but also in job generation. Transport and Highways Minister Nitin Gadkari said on Friday that it forms the central aspect of Modinomics.

Gadkari was speaking at an event in Mumbai organized by the Bharatiya Janata Party to celebrate nine years of Modi’s government in the centre.

“During the past 60 years during Congress, the term capitalism was discarded. There was a disdain for capitalists and private investment. The then Congress government emphasized centralized management of the budget. All of this has passed. We have come a long way and are working to encourage domestic and foreign investment. It is an integral part of Our development model to accelerate growth and alleviate poverty.

The pressure to invest capital is not for wealth creation. It is job creation. “With investments of just Rs. 900 crore, we have been able to undertake projects worth INR 9 crore,” Gadkari said.

When I was a minister in the Ministry of Public Works, I talked about the Public Private Partnership (PPP) and Build-Operate-Transfer (BOP) model, the idea was criticized. But it has become a successful model for infrastructure enhancement.

He said that India, with huge potential, will become number one in the automotive sector in the next five years. He added that while the mega road projects that are being implemented across the country will not only provide world-class infrastructure but also boost tourism.

Overall, he said, “What Congress has failed to achieve in 60 years, the Modi government has delivered in just nine years.”

Reflecting on the grassroots central schemes that have helped transform people’s lives, Gadkari said, “Antyodaya’s mission has proven to be very beneficial. Under Pradhan Mantri Ojwala, he received Rs 9.5 crore benefits. Prime Minister Awas Yogna helped Rs 3.5 crore. Ayushman Bharat 37 crore person and 49 crore person opened bank accounts under Jan Dhan Yojana.In a short span, 12 crore toilets were built.Almost all the central schemes were geared towards making a difference in the lives of the poor and oppressed segments.



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