The allocation for the Ministry of Road Transport and Highways has seen an increase of 68%, with Rs 1,99,107.71 crore set aside in the Union Budget 2023. This is largely in line with the target Finance Minister Nirmala Sitharaman has set for the expansion of national highways. Network up to 25,000 km in 2022-2023.
The ₹81,006 crore hike for the ministry has been earmarked almost entirely for investment in NHAI, a 133% increase from ₹57,350 crore in last year’s budget to ₹1,34,015 crore this year.
The minister also said that the government would finalize its plan for the expressway in 2022-2023 under the PM Gati Shakti programme.
To finance road projects, the government will also raise Rs 20,000 crore through innovative financing to supplement public funding. Of the 35 multi-modal logistics parks that the government is planning across the country, four will be provided in the next financial year.
The minister identified the PM Gati Shakti program – which envisages coordinated planning across ministries and states for infrastructure development – as one of the four key pillars of the budget.
“The focus will be on planning, financing, including innovative methods, use of technology and rapid implementation. master plan test [under PM Gati Shakti] There will be world-class modern infrastructure and logistics synergy between the various modes of movement – both people and goods – and the location of the projects. This will help increase productivity and accelerate economic growth and development,” she said.
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