Impetus being given to highway projects
Infrastructure continues to be on top of the government’s agenda to boost investment cycle. Finance minister Arun Jaitley proposed to raise the total allocation for the sector to `5.97 lakh crore in 2018-19, up by over `1 lakh crore in the current fiscal. This is highest ever allocation for the sector and the government is committed to raise it further.
Terming infrastructure as the growth driver of economy, he said the country would need massive investment in excess of `50 lakh crore over the coming years. This will increase growth of GDP, connect and integrate the nation with a network of roads, airports, railways, ports and inland waterways. Including Bharatmala Pariyojana Phase-i, 83,677 km of highway sector projects are proposed to be implemented with an overall cost of `6,92,324 crore over a five year period.
The Cabinet had accorded approval to the investment proposal for the umbrella highway sector programme Bharatmala Pariyojana (BMP) Phase-i on October 24, 2017 for development/ upgradation of 34,800 km of National Highways with an outlay of `5,35,000