Indian government has unveiled its Rs. 7 lakh crore plan for 83,677 km highway development; second biggest project after NHDP
Indian government has unveiled its plan for development of 83,677 km highway across the country, the second biggest highway development project after NHDP. The project will be implemented over next five years at a cost of Rs. 7 lakh crore. Earlier, under NHDP 50,000 km highway were developed across the country and the latest project comes with even bigger scale.
Such a massive highway development project is expected to generate jobs significantly and boost the economy as well. Under this new project, 83,677 km of roads, highways and bridges will be built in different phases and the first phase is scheduled to be completed by 2022. As government revealed, around 24,800 km roads will be built as part of the BharatMala project at an expense of Rs. 5.35 lakh crore.
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The BharatMala project will connect the economic corridors across the country and borders and coastal areas through the highways. Apart from that, 1,837 km of expressway too will be built under this project. A significant number of roads will be built in the less developed North-East areas and the zones affected by Maoist insurgency as well.
The BharatMala project includes the ongoing construction of 10,000 km of national highways across the country and 48,000 km f roads and highways as well. Half of such huge amount of invest is expected to be raised from market and government also seeks private investments. The rest of the investment will be made from government funds for roads and highway tolls.
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Such a huge road construction is expected to boost the automobile industry of the country passively that has experienced several bumps in recent past since demonetisation. The traffic situations around the country are also expected to be improved significant with these newly built roads, highways and national highways.