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Govt approves highway projects worth Rs 7 lakh crore including Bharatmala

25 Oct 2017 Evaluate

In order to give a major push to India’s infrastructure and create more jobs, the Union cabinet chaired by Prime Minister Narendra Modi has given its nod for the biggest ever highway project worth around Rs 7 lakh crore for development of over 80,000 km of highways including the ambitious Bharatmala project in the next five years. Bharatmala is the biggest ever road building programme after National Highways Development Project (NHDP) that saw development of about 50,000 km, and aims at improving connectivity in border and other areas.

Under Bharatmala scheme, 34,800 km of highways would be constructed at the cost of Rs 5.35 lakh crore. It involves building 9,000 km of economic corridors to unlock full economic potential, 6,000 km of inter-corridor and feeder routes, 5,000 km of national corridors efficiency improvement. To boost border roads and international connectivity, the government also approved construction of 2,000 km of roads along the eastern and western borders of the country.

For funding of Bharatmala project, Rs 2.09 lakh crore will be raised as debt from the market, Rs 1.06 lakh crore from private investments and Rs 2.19 lakh crore from sources like Central Road Fund, toll etc. In addition to 34,800 km under Bharatmala, balance works of 48,877 km of highway projects under other current schemes will be implemented in parallel by NHAI/MoRTH with an outlay of Rs 1.57 lakh crore.  This will be financed by providing Rs 0.97 lakh crore from CRF and Rs 0.59 lakh crore as gross budgetary support. 

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