There is finally clarity with respect to the highway target announced in the Union Budget speech by the Finance Minister.
"GatiShakti Master Plan for Expressways will be formulated in
2022-23 to facilitate faster movement of people and goods. The National highways network will be expanded by 25,000 km in 2022-23. Rs 20,000
crore will be mobilized through innovative ways of financing to complement
the public resources," Finance Minister Nirmala Sitharaman had said in her Budget Speech on Feb 1.
Senior officials have clarified that the intent of the statement was setting targets and classifying stretches for 25,000 km of highway construction in one year but the actual construction will take place over a period of two years, i.e. FY23 and FY24.
"This enhancement will include Gatishakti plan to connect economic centres, which includes the likes of Gorakhpur-Siliguri and Varanasi-Ranchi-Kolkata stretch which will boost connectivity between India, Bangladesh and Nepal," the official in the know of the matter added.
The ministry aims to complete the construction of 13,500 km of national highways in the next financial year 2022-23.
FY22 target: Missed but narrowly
The road, transport and highways ministry is likely to complete construction of 11,000 km of national highways in the current financial year, ending March 31, a senior government official told CNBC-TV18.
The government had set a target of 12,000 km of highway construction in FY22, but the actual construction speed was affected by the unfavourable weather conditions, the official added.
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