There has been an increase in the construction of National Highways (NHs) and roads over time, with 10,457 km of roads constructed in FY22 as compared to 6,061 km in FY16.
In FY23 (until October 2022), a total of 4,060 km of NHs and roads were constructed, which was around 91 per cent of the achievement in the corresponding period of the previous financial year, said the Economic Survey on Tuesday.
Total budgetary support for investment in the sector has been increasing rapidly in the last four years and stood at around Rs 1.4 lakh crore during FY23 (as of October 31, 2022).
The Survey said that road infrastructure in the form of a network of national highways, state highways, district roads, rural roads, and urban roads acts as a major mode of transportation and connectivity for the country's diverse population of consumers and businesses. Roads supplement the other modes of transport through last-mile connectivity to the far-flung regions of the country.
The Economic Survey also pointed out that in line with the vision of monetisation of public sector assets, National Highways Authority of India (NHAI) launched its InvIT in FY22 not only to facilitate monetisation of roads but also to attract foreign and domestic institutional investors to invest in the roads sector. So far, NHAI InvIT has raised more than Rs 10,200 crore from high quality foreign and Indian institutional investors (up to December 2022).
J.P. Nadda holds meeting with Tripura BJP leaders; discusses party-related issues
Bharatiya Janata Party (BJP) national president J.P. Nadda on Sunday held an important meeting with Tripura's state unit leaders including Chief Minister Manik Saha and discussed various party affairs.
One body recovered from Telangana tunnel on day 16 of rescue operation
Rescue workers on Sunday - the 16th day of the operation - pulled out the body of one of the eight missing persons from the partially collapsed SLBC tunnel in Telangana’s Nagarkurnool district after the cadaver dogs from Kerala identified the spot for presence of human remains under the rubble.
FM says GST rates to be reduced further, rationalised; Congress demands overhaul
Union Finance Minister Nirmala Sitharaman has said that Goods and Services Tax (GST) rates will be reduced further as the process of rationalising tax slabs is nearing completion.
'Anti-incumbency is an issue of the past now': J.P. Nadda hails PM Modi's leadership in Tripura rally
Bharatiya Janata Party (BJP) national president J.P. Nadda on Sunday said that the political culture in India has changed after Narendra Modi became Prime Minister, adding that people earlier used to talk about the anti-incumbency factor against the government.
Budget Session: Second leg to see fireworks over delimitation row, Trump's tariffs; Waqf Bill on govt's agenda
The second leg of the Budget session of Parliament is set to resume on Monday and is expected to be a stormy one with both the Opposition and Government ready to outdo each other on multiple issues.
PM Modi visits Vice President Dhankhar in AIIMS, wishes him speedy recovery
Prime Minister Narendra Modi on Sunday visited the AIIMS Delhi to enquire about the health of Vice President Jagdeep Dhankhar and prayed for his speedy recovery.
India, EU to hold next round of trade talks on March 10
India and the European Union are scheduled to begin the next round of talks for a proposed free trade agreement (FTA) from Monday in Brussels with the aim of concluding the talks by the end of this year, a senior official said.
Nari Shakti is foundation of Viksit Bharat: CM Manik Saha
Tripura Chief Minister Prof. Dr. Manik Saha today said that women are crucial for making Ek Tripura Srestha Tripura and Nari Shakti of the 21st century is the foundation of Viksit Bharat.