Another jump likely in budget for roads
₹3.2 trillion, the highest-ever. This would allow it to build more greenfield highways and expressways, giving a leg-up to transport infrastructure that is key to propelling economic growth. The higher capex for the roads ministry may be announced in the interim budget to be presented in Parliament in February, the person said, adding that MoRTH has already indicated the numbers in its pre-budget consultations.
The numbers may see some revision when full budget is presented by the new government at the Centre early in the second half of 2024 calendar year, he added. Queries sent to MoRTH remained unanswered at press time. A higher allocation for MoRTH for FY25 would build upon a 25% rise in capex for the ministry in FY24 when allocations rose from a level of ₹2.06 trillion (revised estimate) in FY23 to ₹2.58 trillion in FY24.
Prior to that, the capex for road and highways increased by a historic 82% from ₹1.13 trillion (actuals) in FY22. The persons quoted above said that though this would be sufficient to speed up highway development, more allocation should be considered for this critical sector that is also in the midst of expanding the network of large sized expressways like the Delhi-Mumbai Expressway, work on which has already started. It has also to complete the Bharatmala highway project that envisages construction of 34,800 km of roads connecting economic centres including ports, railway hubs and inland waterway stations.
The cost estimates for Bharatmala-I project, conceived in 2017\, has doubled from the initial ₹5 trillion to over ₹10 trillion now, which would require more funds with MoRTH and NHAI. The project is now estimated to be completed by FY28. Also, MoRTH is finalizing a Vision 2047 document that
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