Government to invest Rs. 37,880 crore for building roads
The government plans to build 8,500 kilometres of roads across the country this fiscal year, hence, the union finance minister Arun Jaitley has proposed to invest Rs. 37,880 crore in the National Highways Authority of India and State Roads, including Rs. 3,000 crore for the North Eastern part of India.
This will be a welcome move for the struggling road construction industry as well as the construction equipment manufacturers. Also, eventually this move is expected to result into better road connectivity across the country. In the last fiscal year, the government was only able to achieve development of 3,169 kilometres against the target of 7,500 kilometres. How successful is this proposal, we will know only by the end of this fiscal year when we have the final figures of the roads developed.
The National Highway Authority of India will also reserve Rs. 500 crore for project preparation of developing select expressways parallel to the development of industrial corridors.