Nitin Gadkari Minister of Road Transport and Highways while participating in Indo-US Partnership Vision Summit said India will invest 15L Crore in Road Construction over the next 2 Years. This will enhance the economic growth and generate jobs across the country. The National Highways Authority of India (NHAI) recently set a world record by constructing a four-lane highway measuring 2,580 metres in length in less than 24 hours. His other prominent priorities include setting up infrastructure funds similar to Indian Railway Finance Corporation (IRFC) and Power Finance Corporation (PFC).
India’s road infrastructure has been advancing at a breakneck pace, with a record 37 kilometres of road being constructed each day.
Nitin Gadkari is optimistic that his ministry will meet the 40-kilometer-per-day road construction goal this fiscal year and in turn help in creating massive employment opportunities across the Country.
Union Minister Nitin Gadkari has stated that his ministry intends to significantly increase road building in India over the next two years in order to prioritise road infrastructure growth.
Nitin Gadkari stated that the Ministry of Road Transport and Highways intends to spend approximately Rs. 15 lakh crore over the next two years on road and highway construction across the country. The Centre has already permitted 100 percent foreign direct investment in the road and highways market, bolstering his ministry’s ability to meet the target.
Gadkari is optimistic that his ministry can boost its efficiency in the current fiscal year and meet the daily highway development goal of 40 kilometres.
Gadkari said during the Indo-US Partnership Vision Summit that India’s infrastructure sector offers enormous investment opportunities. “The Indian government is working to provide its citizens with world-class facilities. Its objective is to enhance highways, roads, and ports “‘He said. He also noted that investors would need to hedge their investments in NHAI ventures.
“There is an enormous opportunity for infrastructure spending, which includes airports, metro rail, and train stations. Additionally, there is an opportunity to invest now in energy for public transportation “he observed.
India’s road infrastructure has been advancing at a breakneck pace, with a record 37 kilometres of road being constructed each day. The National Highways Authority of India (NHAI) recently set a world record by constructing a four-lane highway measuring 2,580 metres in length in less than 24 hours.
By March 20, India had constructed 1,37,625 kilometres of highways, up from 91,287 kilometres in April 2014. India has also invested five times as much money on highway construction over this time span. Gadkari said that India has increased the length of national highways by more than 50% in the last seven years.
Gadkari recently urged agencies engaged in road construction projects across India to establish an infrastructure fund to finance road construction. He cited examples such as Indian Railways, which has a finance arm named the Indian Railway Finance Corporation (IRFC), and the power ministry, which has a finance arm called the Power Finance Corporation (PFC), to demonstrate that his ministry falls behind in terms of financing.