Union Minister for Road Transport and Highways Nitin Gadkari has reaffirmed the government’s commitment to expedite highway construction.
Gadkari, speaking at an event at the Indian Express Idea Exchange, said the government is set to approve more highway projects, which could cost Rs 2 lakh crore, by the end of December.
The announcement comes after the approval of several key infrastructure projects under the Narendra Modi 3.0 administration, which places a strategic focus on infrastructure development as part of the Prime Minister’s Vision 2047.
Gadkari emphasized that, despite heavy borrowing and increasing dependence on budgetary funds, the government has adequate resources to support ongoing and further projects.
The target for the construction of 10,421 km of highways in the current fiscal year is 15% less than the previous year. According to a report by Financial Express, capital expenditure has been put at Rs 2.72 lakh crore for 2024-25, a marginal increase of 2.9 percent from the previous fiscal.
The acceleration in the rate of project approvals is a sign of the Modi government’s massive effort to ramp up infrastructure. Last month alone, the cabinet approved projects worth Rs 51,000 crore, while another Rs 40,000 to Rs 50,000 crore is expected to be approved. However, this expansion has come amid financial challenges, leading to increased reliance on infrastructure investment trusts and toll-operate-transfer schemes to raise funds.