The Union road transport ministry is ready to offer viability gap funding to the tune of Rs 1,000 crore to its state counterparts. This allocation will aim to set up large world-class bus terminals in as many as 2,000 cities and towns.
“We have a Rs 1,000-crore funding plan to assist states in setting up of world class busports (large bus terminals).
What I have in mind is around 2,000 such terminals over the next few years in the BOT model or can be in private-public partnerships where there will more need for viability gap funding. The Central fund can be used for this,” Union road transport minister Nitin Gadkari has said.
Boci president Prasanna Patwardhan noted that close to 40 new vehicles get added to the roads every minute. With close to 1.7 million buses sold every year, India is world’s second largest bus market in the world globally after China.