Gadkari discusses innovative financing mechanism for procurement of electric buses
India needs to explore new business models for reducing the financial risks of the Bus Operator and OEMs and to improve the private participation in adoption of the electric buses.
This was among the discussions held during a meeting of Transport Ministers of States and Union Territories (UTs) by Union Minister of Road Transport & Highways Nitin Gadkari in New Delhi on 17 April 2023.
The discussions covered a wide range of issues including the need to develop innovative financing mechanism for the procurement and operations of electric buses.
Ministers of Transport from State and Union Territories supported and appreciated the initiatives taken by Ministry of Road Transport and Highways.
They also spoke about various initiatives taken by the States and UTs authorities and provided their suggestions and inputs for further strengthening the policies and strategies for transformation of road transport sector.
The objective of the meeting was to discuss a range of road transportation related issues including Review of Speed Limits, Vehicle Fitness Testing Infrastructure, Financing of Electric Buses & Automation of Learner’s License, and find new & innovative solutions through mutual cooperation and consultation.
Secretary (MoRTH) Alka Upadhyaya highlighted the various initiatives taken by his Ministry for the development of future ready road transport in the Country.
Considering the improvement in road technology and advancement in vehicle engineering, MoRTH had constituted a Committee to review the speed limits for various motor vehicles and road stretches in the Country.
The recommendations of the Committee were discussed in detail and comments/ suggestions were invited from stakeholders.
The meeting also discussed status on implementation of Voluntary Vehicle Fleet Modernization Program (VVMP) across States, specifically on the development of ATS infrastructure critical for the implementation of mandatory automated fitness testing regime and the support required for the success. fiinews.com
