Union Minister for Road Transport and Highways Nitin Gadkari has asked all private sector entities to come forward for the development of social bonds, mentioning the corpus generated through the social contribution may be used to finance projects like the zero fatality corridor.
Speaking at a virtual event on "Private Financing for Road Safety", the minister said the private sector can utilize their corporate social responsibility (CSR) fund to address all 4E's (engineering, enforcement, education, and emergency care services) of road safety. He said public-private collaboration and continuous efforts will help in reducing road accidents in the country and improve road safety.
The Union minister reiterated commitment to achieve a 50 percent of reduction of road deaths by 2025 and zero accident-related fatalities in the country by 2030, informed an official ministry release. He said, road accidents put the social-economic burden on society and the nation as a whole and urged all private sector entities to proactively come forward for the development of social bonds.
The Minister highlighted that 50 percent of the road accidents are due to road engineering problems and now the government has taken special initiatives to improve the black spot. This will greatly contribute towards the vision of 'zero road accident' in India.