Nitin Gadkari says, encouraging capital investment key to Modinomics

Measures to encourage capital investment have been an important aspect of Modinomics as it is not just a wealth creator but also a means of employment generation, said Union minister Nitin Gadkari.

In the 60 years of Congress rule, hatred was spread against capitalists. During the Congress rule, governance was budget-centric, said the minister of road transport and highways here at an event on the achievements of nine years of the Narendra Modi government. Encouraging domestic capital investment, and bringing foreign capital for development are necessary to eradicate poverty, he said.

Recalling his days as the PWD (public works department) minister of Maharashtra in the 1990s, when the undivided Shiv Sena-BJP alliance was in power, Mr Gadkari said he would then speak of infrastructure projects on BOT (build-operate-transfer) and PPP (public-private partnership) basis.

He said the Congress leaders would mock him, saying whether the government was given on BOT and PPP. Today, public-private partnership and build-operate-transfer models are well accepted, he said. In the Modi government, Gadkari said, decision-making is transparent and time-bound because of good governance with a focus on development and economic growth.

He said the target of the Modi government is the eradication of poverty and socio-economic inequality. The Antyodaya schemes of the Modi government have benefitted the poor sections of society. While 9.5 crore people have benefitted due to 'Pradhan Mantri Ujjwala Yojana, 3.5 crore citizens got houses under the PM Awas Yojana, he said.

Forty-nine crore bank accounts have been opened, 37 crore people have benefitted under the Ayushman Bharat (health scheme), and 12 crore toilets have been constructed under the Swachh Bharat programme. A majority of these schemes have benefitted the poor and given them dignity, he said.