Transport Min facing funds crunch
As govt set to keep driving growth of highways, ministry eyes more budgetary support
New Delhi: With the increased focus of the government on the development of highways and expressways in the country, the roads and highways ministry in the upcoming budget is likely to get budgetary support which will be nearly 20 per cent higher than what it got in the last budget.
Sources said that gross budgetary support in the range of Rs 2.20 lakh crore or more in the upcoming budget for capital and revenue expenditure in the Financial Year 2023-24 is quite likely. In the last budget (FY 2022-23) the Centre had earmarked nearly Rs 1.99 lakh crore as the Gross Budgetary Support (GBS) for the roads and highways ministry.
Government data about budgetary allocation of the Centre for the roads and highways ministry has pointed towards the trend of increasing allocation to the ministry, which underscores the importance being given to expanding and improving the National Highways network across the country. The Centre's budgetary allocation in 2017-18 to the Ministry of Road, Transport and Highways was Rs 59,636 cr and it recorded a substantial jump year after year reaching the mark of Rs 1,99,108 crore in 2022-23.The ministry had set a target of constructing 12,200 km National Highways during 2022-23, against which 4,766 km had been constructed till November, 2022.