The government is working on a scheme to raise funds from the public at 6 per cent annual interest rate for road infrastructure projects, union minister Nitin Gadkari said on Wednesday in the Rajya Sabha.
"... We are working on a scheme to raise funds from the poor and ordinary persons for road projects.
"We will raise funds at 6 per cent annual interest rate which is higher than what banks provide," he said in the Upper House.
This will benefit the public as they will get a fixed return, he added.
Speaking during the Question Hour, the road transport and highways minister said the country has set several world records in road construction despite COVID-19.
The construction of Zoji La tunnel on the Srinagar-Leh highway will be completed before 2024, while another Z-Morh tunnel will be completed in the next three months, he added.
Highlighting the steps taken to link critical roads with national highways from Leh-Ladakh region, Gadkari said the government is constructing Zoji La tunnel below Kargil and the work is in progress.
This tunnel is to be completed in 3.5 years. About 1,000 laborers are working in minus 8 degree temperature inside the tunnel.
"I am sure the tunnel will be ready before 2024," he said.
The minister said while the cost of the tunnel in the tender was projected at Rs 11,000 crore, the government made special efforts to bring down the cost by Rs 5,000 crore.