FCC

Budget 2023: A 25% increase in funding for road construction

2023-01-19

In 2023–2024, the Ministry of Road Transport and Highways (MoRTH) is anticipated to receive a budgetary allocation of over Rs 2.5 lakh trillion, which is approximately 25% more than the current fiscal.

The government will need to accelerate construction by about 30% in order to reach the 25,000 km goal for highway development by the end of FY 2023–2024, which will necessitate additional budgetary support./p>

The ministry received Rs 1.18 trillion in the previous fiscal year and Rs 1.99 trillion this year./p>

The MoRTH and the National Highways Authority of India (NHAI) did not respond to questions made to them as of the time of publication./p>

To assist MoRTH and the NHAI reach the target despite growing interest rates and rising land acquisition expenses, more budgetary allocations are also required./p>

By February, the allocated funds for FY2023 are anticipated to be used up. Even greater fiscal support would be necessary to prevent this from happening the next year./p>

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