Government to spend ₹ 15 lakh crore on road construction in next 2 years

Government to spend ₹ 15 lakh crore on road construction in next 2 years
Government to spend ₹ 15 lakh crore on road construction in next 2 years

Union Road Transport and Highways and Micro, Small and Medium Enterprises (MSME) Minister Nitin Gadkari said that the government has set a road construction target of Rs 15 lakh crore in the next two years. The government also says that the Ministry of Road Transport and Highways will achieve the target of 40 km a day highway construction in the current financial year. Also, the government has said that 100% foreign direct investment (FDI) is being allowed in the road construction sector.

Gadkari said that projects like National Infrastructure Pipeline are the first of their kind in India for the year 2019-2025 and the government is working to give world-class infrastructure to its citizens and improve their lives. He said that more than 7,300 projects are to be worked out under the NIP. Completion of these projects will cost Rs 111 lakh crore by the year 2025. He said that the objective of NIP is to attract investment in infrastructures like highways, railways, ports, airports, mobility, energy and agriculture, and rural industries.

Addressing the India-US Partnership Vision Summit through video conferencing, Gadkari said that the national interests of India and the United States are being fulfilled in the new era of bilateral relations between the two countries. This increases the trust between the administration of the two countries so that all pending trade issues will be resolved soon and major trade agreements will be signed soon.

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