MoRTH targets Rs.1 lakh-cr infra funds next fiscal

In a bid to ensure smooth flow of funds for the on-going and upcoming road projects, the transport ministry has decided to generate about Rs.1 lakh crore funds through off-budgetary resources like NHAI bonds, institutional financing from Life Insurance Corporation of India (LIC), Employee Provident Fund Organization (EPFO) and through other institutional borrowings. These apart, the ministry would also raise money through the highway monetization program under the Toll-Operate-Transfer scheme and also through the upcoming Infrastructure investment funds (InvITs), chairman of NHAI, Deepak Kumar, said, adding that the targeted amount is almost double the amount of Rs.47,000 crore that NHAI has raised in the current financial year. For the next financial year, the ministry is aiming to construct around 12,000 km and awarding a record 25,000 km contract in the road and highway sector. For the next financial year, the ministry has received a budgetary allocation of Rs.71,000 crore, up from Rs.61,000 crore it secured for FY18. In the current fiscal, the ministry will be constructing a little less than 10,000 km, the highest ever to be constructed, he added.