Im­pe­tus be­ing given to high­way projects

Maritime Gateway - - News -

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

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