Centre approves Rs 7-lakh crore project to develop 83,000 km highways in 5 years
October 25, 2017: The union cabinet chaired by Prime Minister Narendra Modi has approved a plan to develop approximately 83,677 km of roads at an investment of Rs 6.92 lakh crore by 2022.
The highway construction programme is aimed at pushing economic activity and generating at least 14.2 crore man-days across the country over the next five years.
The plan involves building of roads, highways, green-field expressways and bridges in phases. The first phase, to be completed by 2022, will see construction of 34,800 km of highways.
The programme includes the Bharatmala scheme, under which 34,800 km of highways would be constructed at the cost of Rs 5.35 lakh crore, finance secretary Ashok Lavasa has said. Under Bharatmala, the road transport and highways ministry will construct 9,000 km of economic corridors across the country.
The project also entails constructing 6,000 km long inter corridor and feeder routes, 2,000 km of border and international connectivity roads, 5,000 km to be upgraded under the national corridor efficiency programme, 800 km of greenfield expressways, 10,000 km under the national highway development programme and 2,000 km of coastal and port connectivity roads.
The government is likely to fund Bharatmala project through market borrowings, central road funds, monetising government-owned road assets, and budgetary allocation.