Nitin Gadkari, the Union Minister for Road Transport and Highways and Micro, Small and Medium Enterprises (MSME) has said that the government is trying its level best to increase liquidity in the market over and above the Rs 3,00,000-crore scheme announced for the MSME sector. Mr Gadkari’s remarks came during his address to the Outlook Business Leading Edge 2021 – Regaining Growth – recently through a video conference.

Sharing his insights on how India was getting back on the path of economic progress after COVID-19, the MSME minister said that the government was in the process of encouraging MSMEs with a good track record of the last five years in terms of bank turnover, GST, Income Tax and balance sheet to raise capital from the capital market.

Talking about various public welfare schemes of the Central government, Mr Gadkari added: “Through several welfare schemes, the government is creating more productivity in the country. We are trying to make the ethanol economy from the present size of Rs 20,000 crore to Rs 2,00,000 crore.” He said that the government was increasing the expenditure on infrastructure. Highlighting the importance of development of waterways, water transport and sea transport, Mr Gadkari noted that by developing waterways, logistical cost would be reduced.

Laying emphasis on rural economy, Mr Gadkari said that there was the need to boost the rural economy, and by increasing liquidity in the market, more employment potential could be created. Mentioning about the rebound of the country’s economy, the minister added: “For the last two months, the growth rate is going in a positive direction, and within six months, it is going to be in a very good position.”