In the last budget, the government had said that going beyond incremental growth, India has attained the fastest growth in highways building at 27 km a day and is all set for a quantum leap in transport infrastructure.
The Ministry of Road Transport and Highways is planning to ramp up its road construction speed to 30 KM per day from the current 22 KM per day by the end of March.
Refinancing of Rs 8,450 crore along with a risk-balancing approach could steer the highway sector out of trouble, Indian Ratings and Research (Ind-Ra) said on June 9
In a press conference, TV Narendran, MD of Tata Steel India, told CNBC-TV18 that the activity in the highway sector is boosting steel demand and there is a demand pick-up in transmission and railways as well.
An India Ratings report reveal that despite stalled projects and low funding, the highway sector will pick up speed with implementation of government policies and initiatives.