By Rajesh Mishra
New Delhi, Feb.29 (ANI): Finance Minister Arun Jaitley on Monday doubled the budgetary allocation for national highways to Rs.55,000 crores
Presenting the budget proposals for fiscal 2016-17, Jaitley said that the total outlay for roads would be in the region of Rs.97,000 crores.
The national highways network of India is a network of highways that is managed and maintained by government-appointed agencies such as the nodal one which is called the National Highway Authority of India (NHAI).
These highways measured over 96,260 kilomters as of 2015, including over 1,000 kilometers of limited-access expressways (motorways).
Out of 96,260 kilometers of national highways, more than 23,000 kilometers are at least four-laned ones, while the remaining 50,000-plus kilomters are two laned ones.
National highways constitute 1.7 percent of Indian roads and carry 40 percent of the traffic.National highways form the economic backbone of the country and have often facilitated development along their routes.
Along with railways, the total spend in fiscal 2016-17 is pegged at Rs.2.18 lakh crores.
The government has said that it will open up the road sector and allow entrepreneurs to take up more transport initiatives.
Jaitley said this doubling of road infrastructure-related financing will be a game changer. The finer details of the scheme are however unclear. (ANI)