According to the transport minister, Nitin Gadkari, the country’s banking sector has assured funding of ₹1.30 lakh crore for roads and highways construction. He recalled that as many as 403 projects worth ₹3.85 lakh crore were lying stalled when he took over the reins of transport ministry but the current government, after assuming power has put on track ₹3 lakh crore worth stalled projects. He said that the banks have informed in writing that they are ready to pay ₹1.30 lakh crore for funding of highway projects built in EPC (Engineering Procurement Construction) mode. He also revealed that as on May 2014 the length of National Highways in the country was 91,000 km, which was insufficient to support growing number of vehicles as auto industry has recorded an annual growth of 22%. The government of the day has doubled that length to 1.80 lakh km, of which up to 1.30 lakh km is under the Centre and the remaining 50,000 km is 'Principal National Highway' which are being managed by states. During April-June an amount of ₹87,663 crore was allocated to National Highway Authority of India (NHAI) of which ₹20,743 crore has been released, he insisted.
📅Published on:
24 July 2018
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