Budget 2023: A 25% increase in funding for road construction
ROADS & HIGHWAYS

Budget 2023: A 25% increase in funding for road construction

In 2023–2024, the Ministry of Road Transport and Highways (MoRTH) is anticipated to receive a budgetary allocation of over Rs 2.5 lakh trillion, which is approximately 25% more than the current fiscal.

The government will need to accelerate construction by about 30% in order to reach the 25,000 km goal for highway development by the end of FY 2023–2024, which will necessitate additional budgetary support./p>

The ministry received Rs 1.18 trillion in the previous fiscal year and Rs 1.99 trillion this year./p>

The MoRTH and the National Highways Authority of India (NHAI) did not respond to questions made to them as of the time of publication./p>

To assist MoRTH and the NHAI reach the target despite growing interest rates and rising land acquisition expenses, more budgetary allocations are also required./p>

By February, the allocated funds for FY2023 are anticipated to be used up. Even greater fiscal support would be necessary to prevent this from happening the next year./p>

Also read:
Centre approves over Rs 174 crore for NH Project in Odisha
Blackspots on national highways being addressed by NHAI


In 2023–2024, the Ministry of Road Transport and Highways (MoRTH) is anticipated to receive a budgetary allocation of over Rs 2.5 lakh trillion, which is approximately 25% more than the current fiscal. The government will need to accelerate construction by about 30% in order to reach the 25,000 km goal for highway development by the end of FY 2023–2024, which will necessitate additional budgetary support./p> The ministry received Rs 1.18 trillion in the previous fiscal year and Rs 1.99 trillion this year./p> The MoRTH and the National Highways Authority of India (NHAI) did not respond to questions made to them as of the time of publication./p> To assist MoRTH and the NHAI reach the target despite growing interest rates and rising land acquisition expenses, more budgetary allocations are also required./p> By February, the allocated funds for FY2023 are anticipated to be used up. Even greater fiscal support would be necessary to prevent this from happening the next year./p> Also read: Centre approves over Rs 174 crore for NH Project in Odisha Blackspots on national highways being addressed by NHAI

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