Banks agreed to Gadkari's statement that the car buyers will be fine, know what the Union Minister said?
Union Minister Nitin Gadkari said that banks should evaluate industries on the basis of their performance on several parameters in the last five years and those who get high marks in the process should be given loans within 24 hours.
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Nitin Gadkari has told the need to promote flex-fuel cars. (File photo)
Highlights
- Vehicles running on diesel and petrol will be phased out.
- Gadkari said that the operation of electric vehicles is in the interest of the passengers.
- Work is underway on the development of bio-LNG and green hydrogen.
New Delhi. Union Road Transport and Highways Minister Nitin Gadkari told banks on Friday that they should give cheap loans for the purchase of clean energy vehicles like flex-fuel, electric, and hydrogen. Speaking at the golden jubilee celebrations of a co-operative bank at Kalyan in Thane district in Maharashtra, Gadkari said that he dreams of phasing out diesel and petrol vehicles in the next four-five years.
The Union Minister said that banks should evaluate the industries on the basis of their performance on several parameters in the last five years and those who score high in the process should be given loans within 24 hours. Regarding the use of electric vehicles for public transport, Gadkari said that the cost of operating a non-air-conditioned electric bus is Rs 39 per kilometer, while it costs Rs 41 per kilometer for an AC electric bus.
Tickets can be reduced by up to 30 percent
Gadkari said that the operation of electric vehicles is in the interest of the passengers. He said that by converting diesel buses to electric buses, ticket prices for passengers can be reduced by up to 30 percent. Earlier, he had said that work is being done on the development of alternative, clean and green fuels such as bio-ethanol, bio-CNG, bio-LNG, and green hydrogen.
Need to promote the country's vehicle industry
The Union Minister said in a recent statement that at present the country's vehicle industry is worth Rs 7.5 lakh crore. He wants to take it to Rs 15 lakh crore. “This will create a large number of new jobs.” He said that he wanted to reduce the cost of construction. "We are trying to minimize the use of steel and cement."
Need for vehicles running on more than one fuel
Earlier, the Union Minister had said that the country needs to promote vehicles running on more than one fuel (flex fuel) and e-vehicles to deal with the fluctuations in the price of crude oil in the international market. Vehicles suitable for 'flex fuel' can use more than one fuel or a mixture of two fuels. Usually, a mixture of petrol and ethanol or methanol is used as fuel in such vehicles.
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