Union Budget 2018: Road Ministry likely to get 71,000 crore
New Delhi: The Nationwide Highways Authority of India (NHAI), beneath street transport and highways ministry, has sought an allocation of Rs 71,000 crore from Finance Ministry by way of Central Street Fund (CRF) for the Funds 2018, as per Zee Media sources.
Finance Minister Arun Jaitley will current the Union Funds 2018-19 on February 1. Will probably be Modi authorities’s final full funds earlier than Lok Sabha elections of 2019.
Sources additionally mentioned that the Ministry of Street Transport and Highways has demanded Rs 95,000 crore from the Finance Ministry within the Funds.
The outlay for Revised Estimate (RE) 2017-18 is proposed to be decreased from BE 2016-17 outlay of Rs 64,900 crore to Rs 61,000 crore.
Terming roads, railways and rivers because the “lifeline of our nation”, FM Arun Jaitley had enhanced the allocation for highways sector by 12 p.c.
Within the street sector, Jaitley final yr stepped up the Funds allocation for highways from Rs 57,976 crore in BE (budgetary estimate) 2016-17 to Rs 64,900 crore in 2017-18.
NHAI final month mentioned that in FY 2017-18, it has accomplished 1,566 km size of the initiatives beneath implementation until November (5,060 km). The final five-year common constructed by NHAI is 2,175 km with 2,628 km constructed in FY 2016-17.
It added that work on 12 new initiatives overlaying 597 km has commenced whereas work on one other 38 initiatives overlaying 1,969 km will begin quickly.
The authority can also be gearing as much as meet its goal of finishing Part I of the lately permitted ‘Bharatmala Pariyojana’ throughout the subsequent 5 years, it mentioned.