On a day when the nationwide lockdown was extended by the Centre, Road, Transport and Highways Minister Nitin Gadkari on Tuesday assured the road infrastructure stakeholders that once restrictions are relaxed the Centre will build roads at double the existing pace.

Gadkari, in an official statement, also called upon the industry to look upon the present crisis as a challenge and opportunity, especially as some countries are looking to move away their investments from China, and India can be one of the best options for them.

Gadkari said the highways construction which saw reaching record level in the last fiscal, should increase pace by 2-3 times in coming years to meet growing needs of the infrastructure sector.

He said, Indian industry should look at the current situation as a blessing in disguise and aim towards improving its export potential. He added that bringing in liquidity in the market is key at this time of crisis and to ensure that, NHAI has already started the process of settling all the pending claims and arbitration.

Talking about the doubling the pace of road and highway construction for FY 20-21, Gadkari  said the ministry is open to re-start projects at various locations with the condition that adequate measures will be taken for safeguard against the spread of coronavirus.

The Minister also stated that time taken in reaching decisions should be kept at the minimum possible to avoid delays and directed the NHAI and its arbitration units to decide matters within three months.

Gadkari also informed that RBI has allowed rescheduling of term loans and working capital facilities.

Being also the Minister incharge of Micro, Small and Medium Enterprises, Gadkari called upon industry sector to work in tandem with Government and the banking sector.

He said he is striving to increase credit guarantee to MSMEs to Rs Five lakh crore from the present level of about Rs one lakh crore.