“ Roads ministry in talks with Japanese fund for Rs 2 trillion loan “
The ministry of road transport and highways is in talks with a Japan-based fund for a Rs 2-trillion loan at low interest rates.
A cabinet note will be moved shortly for the same as part of a strategy to generate funds for India’s new integrated infrastructure planning initiative.
India has been trying to leverage its relationship with Japan to access technology and funds. Japan has pledged investments of around $33 billion between 2014 and 2019 in India’s manufacturing and infrastructure sectors.
“ Fund requirements is not an issue.
There is a fund from Japan which wants to offer this loan at around 5% rate of interest.
We will prepare a cabinet note for the same,” said a senior government functionary requesting anonymity.
He declined to name the Japanese fund. Mint could not ascertain the fund’s name.
Why is Road Ministry ( ie : NDA government ) shying away from raising such funds for Infrastructure Projects at 4 % interest ?
And locally ? And super-fast ? And without worrying about repayment ?
Just as tiny Indonesia did , a few months back
By offering an AMNESTY SCHEME to Indonesian Citizens to declare their BLACK MONEY
Just pay 4 % tax and NO PENALTY / NO LITIGATION / NO QUESTIONS ( re source of funds )
Within 4 months , Indonesians declared ( illegal funds stashed abroad or domestically ), $ 300 BILLION
No wonder , Indonesia does NOT need any FDI for the next 10 years !
Compare this with our Road Ministry’s requirement of just $ 31 Billion [ Rs 2 Trillion ] !
For the “ Strategy “ which would liberate us from our dependence on FOREIGN FUNDING ( - and a begging bowl ) , read :
09 May 2017
www.hemenparekh.in / blogs