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Last Updated : Jan 15, 2020 09:57 PM IST | Source: Moneycontrol.com

Budget 2020: Highway sector allocation may increase by Rs 8,000-10,000 cr

The Road Ministry plans to allot 22 new greenfield corridors comprising six expressways and 16 greenfield corridors this year, covering a span of 7,500 km.

Representative Image
Representative Image

The allocation for the highway sector is likely to be raised by Rs 8,000-10,000 crore in the upcoming Budget, according to a senior official.

"We expect a hike in budgetary allocation by Rs. 8,000-10,000 crore. But we do have enough funds and we have received funds from banks also this year," said the official.

The Union Budget last year witnessed the highest budgetary allocation of Rs 82,570 crore to the highways sector, with a renewed focus on the Bharatmala Pariyojana. With continued focus on improving highways and state road networks, the government is likely to continue its focus with higher budgetary allocation towards the sector.

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The Road Ministry plans to allot 22 new greenfield corridors comprising six expressways and 16 greenfield corridors this year, covering a span of 7,500 km. The new projects are expected to generate an investment of Rs 3 lakh crore in the infrastructure sector.

While land acquisition and financing issues prevail, the rise in budgetary allocation is likely to aid in the construction of highways and attracting further investment.

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First Published on Jan 15, 2020 09:53 pm
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