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Economic Survey terms infrastructure as backbone of economy; says 13,327 km National Highways/roads constructed in 2020 21

Economic Survey terms infrastructure as backbone of economy; says 13,327 km National Highways/roads constructed in 2020-21

Economic Survey terms infrastructure as backbone of economy; says 13,327 km National Highways/roads constructed in 2020-21
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By CNBCTV18.com Jan 31, 2022 4:12:58 PM IST (Updated)

According to the Economic Survey, the significant upturn in road construction in 2020-21 was due to the increase in public expenditure by 29.5 percent as compared to the previous year -- a reflection of the impetus given by the government to a critical sector that generates employment and supports infrastructure during a pandemic year.

The Economic Survey presented by Finance Minister Nirmala Sitharaman on Monday said there has been a consistent increase in the construction of National Highways/roads since 2013-14, with 13,327 kilometres constructed in 2020-21.

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Labelling infrastructure as the backbone for any economy, the Economic Survey said the extent and quality of infrastructure determines the ability of a country to utilise its comparative advantage and enables cost competitiveness. The Survey further said that in 2021-22 (till September), 3,824 kilometres of road network was constructed.
"There has been a consistent increase in the construction of National Highways/roads since 2013-14 with 13,327 kms of roads constructed in 2020-21 as compared to 10,237 kms in 2019-20, indicating an increase of 30.2 percent over the previous year," it said.
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According to the Survey, the significant upturn in road construction in 2020-21 was due to the increase in public expenditure by 29.5 percent as compared to the previous year -- a reflection of the impetus given by the government to a critical sector that generates employment and supports infrastructure during a pandemic year.
It also noted that road infrastructure is widely recognised as a potent means of socio-economic integration and is vital for the economic development of the country.
(With inputs from PTI)
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