+
MoRTH spends 91% of budgetary allocation by year-end
ROADS & HIGHWAYS

MoRTH spends 91% of budgetary allocation by year-end

The Ministry of Road Transport and Highways (MoRTH) will spend nearly 91 per cent of its budgetary allocation by the year-end. The total gross budgetary outlay of the ministry for financial year 2023-24 is Rs 2,58,606 crore, and the actual expenditure in the first two months is already nearly Rs 60,000 crore.

According to sources, the ministry is accelerating the process of highway construction and land acquisition. A total of 170 land acquisition notifications have been issued and compensation of approximately Rs 210 crore has already been processed by the Ministry. Aggressive spending by the ministry indicates that the highways sector can absorb more money in its ecosystem.

Ministry officials added that national highway construction was up 10 per cent on year in May with 1,465 km of national highways constructed versus 1,307 km in the corresponding period in 2022-23.

In May, around 382 km of fresh road construction contracts were awarded, which is lower than 496 km awarded during the same period in the previous year.

The Ministry of Road Transport and Highways (MoRTH) will spend nearly 91 per cent of its budgetary allocation by the year-end. The total gross budgetary outlay of the ministry for financial year 2023-24 is Rs 2,58,606 crore, and the actual expenditure in the first two months is already nearly Rs 60,000 crore.According to sources, the ministry is accelerating the process of highway construction and land acquisition. A total of 170 land acquisition notifications have been issued and compensation of approximately Rs 210 crore has already been processed by the Ministry. Aggressive spending by the ministry indicates that the highways sector can absorb more money in its ecosystem.Ministry officials added that national highway construction was up 10 per cent on year in May with 1,465 km of national highways constructed versus 1,307 km in the corresponding period in 2022-23.In May, around 382 km of fresh road construction contracts were awarded, which is lower than 496 km awarded during the same period in the previous year.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?