Govt fast tracks 10,000km road projects

10000 Km Road Projects
The planned budgetary allocation worth Rs. 1 lakh-cr in the 2016-17 fiscal for road and highways sector will work wonder to place the sector on a fast track achieving the targeted road building length of 10,000km during the period.

As a matter of fact, the fund enhancement by around 24% which is definitely a positive for the sector and that the allocation has been met largely from Central Road Fund (CRF),the corpus of which has grown due to increased cess on petrol and diesel during last 1.5 years. The target length of national highways marked more than two-fold jump from around 4400 km constructed during FY 2014-15. Considering such significant increase in target, the role of private sector investment to the tune of Rs. 30,000-cr would be the key to achieve that, because the current budget allocation Rs. 55,000-cr along with likely market borrowing Rs. 15,000-cr as announced in Budget by National Highways Authority of India ( NHAI) would not be sufficient to meet the fund required to build the targeted length. Therefore, two initiatives such as Public Dispute Resolution Body and Guidelines for renegotiation of PPP contract are important to provide necessary impetus to the PPP model of procurement in roads and highways sector which has suffered due to disputes and litigation, said an analysts.

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