Wednesday, July 27, 2016
By Kriti Gupta
50,000 kms of National Highways to be developed in next 5 years
It is reported that government of India will invest about Rs. 7 lakh crore for building 50,000 kms of National during next fiver years. With the government has also released Gross Budgetary Support (GBS) of Rs. 46, 834 Crore comprising of CESS and remittance on toll for the year 2016-17 for the Ministry of Road Transport & Highways (MoRTH). The funds of Rs. 59,279 crore have also been released as Internal & Extra Budgetary Resources (IEBR) for construction of highways during F.Y.2016-17.
During the month of April 2016, Mr. Nitin Gadkari, Honorable, Minister of Road Transport & Highways had increased the target of constructing national highways up-to 2.5 times more than the length determined for the year 2016-17. The target for this year is constructing highways is 15,000 km or 41 kms per day as compared to 6,000 km or 16.5 kms per day developed last year.
It would be interested to know that through Fuel Cess and toll, Ministry of Transport has managed to earn Rs. 65 Thousand Crore during this financial year. The National Highways Authority of India has been permitted to borrow Rs. 35 Crore during ongoing year.