Govt saved banks from Rs 3 lakh cr of NPAs by clearing pending road projects

PNS|New Delhi

The government on Tuesday claimed in the Rajya Sabha that it has saved Indian banks from Rs 3 lakh crore of NPAs by helping clear pending road projects in the country since 2014.

Road Transport and Highways Minister Nitin Gadkari informed the Rajya Sabha that there are 415 road projects where 95 per cent of work is complete but have been categorised in the delayed projects category.

He said the government would soon carry out state-wise monitoring of all such pending or delayed projects and help clear them at the earliest.”There are 415 projects where 95 per cent of work is complete and are termed as delayed projects. When our government came in 2014, there were projects worth Rs 3.85 lakh projects which were shut for various reasons,” he told the house during Question hour.The minister was replying to a question about whether the government has any plan to restart the delayed or stalled road projects in the country and if a further action plan is being prepared after ascertaining the reasons for the delay in these projects.

Gadkari claimed that after government formation, it talked to bankers and cleared various bottlenecks including issues like land acquisition and coordinated with state governments.”We have saved Indian bank from 3 lakh crore NPAs,” he told the members.

The transport minister also said that during Covid, certain projects were granted an extension of work and such projects have also come under delayed projects. “The projects have been delayed because of various reasons including by contractors or other issues beyond our control. We will within three months do state-wise monitoring of all projects which are incomplete and are delayed,” the minister told the house.