Highway Ministry reaches 20% of April 2024 capital expenditure target

17 May 2024 CW Team

Despite experiencing a slowdown in awarding projects during the second half of 2023, the Ministry of Road Transport and Highways (Morth) continued to prioritize front-loading capital expenditure, spending over Rs 545 billion on new highway construction in April this year.

In its monthly report to the Union Cabinet, the ministry reported that it had achieved 20.04 percent of its capital expenditure target with 11 months remaining.

The ministry has been proactive in early execution of capital expenditure, following a strategy set by the finance ministry to ensure infrastructure creation does not face excessive backlogs towards the end of the financial year.

Typically, ministries are expected to ensure that at least two-thirds of their capital expenditure is spent by the end of the second quarter. Although the highway ministry has consistently maintained double-digit percentage shares in capital expenditure in previous years, this is the first time it has begun a financial year having spent over Rs 500 billion.

Experts note that there is still a healthy pipeline of projects from the NHAI, and the impacts of the Bharatmala slowdown are expected to be more pronounced in FY26.

Additionally, the ministry had anticipated a decline in construction (and consequently capital expenditure) starting FY25 due to delays in the approval of the Revised Estimates of the Bharatmala project, which had seen a Rs 5 trillion increase in costs.

In November 2023, the ministry informed the cabinet that the shortfall in awards for the current year would affect construction progress in FY 2024-25.

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..