Whether part of a fresh stimulus package or not, the Narendra Modi government is going to focus on laying foundation stones, inaugurating projects that are completed or nearing completion, and announce new schemes over the next few weeks.
Sources in the government said while they were working hard to keep the “energy and momentum of the economy going”, since the work would take time to show results, the perception was that the economy was slowing. These sources did not give much importance to the GDP figure of 5.7 per cent for the quarter ended in June.
Citing good monsoons in addition to all the focus the government has given to every sector of the economy, it was maintained that “when the results show, they will have been worth the waiting”.
It is with the idea of showing the word done that Transport and Highways Minister Nitin Gadkari will lay the foundation stone for national highway projects in Andhra Pradesh on October 3. They are estimated at Rs 2,539.08 crore. These, however, are projects that have been in the works before Finance Minister Arun Jaitely hinted at possible financial package to stimulate the economy. Though the foundation stone is to be laid next week, the work on it has already begun.
The minister will also inaugurate a 415 km stretch of national highways, which is actually the upgradation of existing highways.
As the minister for Shipping and Water Resources and River Development, Gadkari will also lay the foundation stone for the development of a stretch of national waterways 4, from Muktyala to Vijaywada stretch of the Krishna River.
“The project will provide an efficient logistics solution to boost the economic growth of the region and facilitate the development of the capital city Amravati during its early development stage as substantial construction material is expected to be transported on this stretch of NW-4,” said government sources, adding that a proposal for phase II of this is also in the works.
