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Govt. targets road construction worth Rs 15 lakh crore in next two years
New Delhi, May 3, 2021
The Government is giving utmost priority to the development of infrastructure and has set a target of road construction worth Rs.15 lakh crores in the next two years, Minister for Road Transport & Highways Nitin Gadkari said last Friday.
The Minister expressed confidence in achieving a target of 40 kilometres per day of highways construction in the current fiscal. The Government has also allowed 100% FDI in the road sector.
The National Infrastructure Pipeline for 2019-2025 is the first of its kind project and the government was committed to providing world-class infrastructure to its citizens and improving the quality of their lives. Under the NIP, there are over 7,300 projects to be implemented at a total outlay of Rs 111 lakh crore by the year 2025, he said.
He said the NIP aims at improving project preparation, and attract investment in infrastructure, including highways, railways, ports, airports, mobility, energy, agriculture and rural industry.
Addressing the Indo–U.S. Partnership Vision Summit through video conferencing, the Minister said in the new era of bilateral relations, the national interests of India and the United States are converging. There is growing confidence that all outstanding trade issues will be resolved and major trade agreements will be signed soon. The Minister invited the U.S. companies to invest in infrastructure and MSME sectors in India.