NEW DELHI: Nitin Gadkari, the union's minister of transport, stated on Tuesday that the government would raise money for road projects through the financial markets. The minister added that despite concerns about global recession, financing infrastructure projects is not a problem.

while addressing an event in New Delhi, Gadkari said as follows: ''I am going to the capital market now. I do not  have financial resources problems.''But, I do not want to use the finances of  the rich. I am going to stock market, and there I am going to take investments from small people - Rs1 lakh, Rs2 lakh, where I am giving them a guaranteed return of 8 percent, adding that "I will get tremendous money from the market", the union minster noted.

The construction equipment market is worth Rs 50,000 crore, but because of the surge in crude oil prices, there are issues in the sector,  Gadkari said.He advised the builders of construction equipment to "get rid of diesel, it is a harmful fuel, as soon as possible" because of the high cost of the fuel.The minister also emphasised that it is government policy to support alternative fuels including methanol, ethanol, and green hydrogen.

He noted that electric mobility is the future and claimed that since some Indian companies starting to produce electric vehicles, their market share has climbed and that of international automakers has fallen. Gadkari said that India imports coal even though it has ample coal reserves and claimed that the government has planned to privatise 60 coal mines to boost productivity.

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