Rs 4 lakh crore likely for rail, highways next fiscal | India News

NEW DELHI: The highway and the railway sectors are likely to receive a combined budget allocation of more than Rs 4 lakh, the highest ever. Both road and rail set could see their allocation grow 20-30% considering their track record of spending to date, sources told TOI.
In the current financial year, Center allocated nearly Rs 2 lakh to the Ministry of Road and Highway Transport and following current spending trends; total spending is likely to hit the Rs 2.1 lakh mark by the end of March. Government sources said considering the amount of work that the Ministry of Highways and its affiliates – NHAI and NHIDCL – can spend more in the next financial year when several highway projects under construction are expected to be completed.
For railways, the government has allocated Rs 1.4 lakh for the period 2022-2023 and sources say the national transport agency will probably spend more than that by the end of March. As it will focus More on introducing more modern Vande Bharat trains, speeding up the track electrification program and setting up more freight terminals, so there will be more spending power.
Sources say the allocation could be 25% more than the BE of 2022-23. They added that one of the main focuses will be taking on jobs that help railways increase the share of freight transport, which plays a key role in reducing logistics costs.
The Ministry of Roads and Highways is also seeking approval for the cost of the revision of Bharatmala phase 1, its flagship highway development program, which also includes around 7,000 kilometers of new construction.
Sources say the revised cost of the ongoing and future works, known as Bharatmala-1A, will be around Rs 130,000.
Road and rail projects are the most visible developments and they create more direct jobs. Just before key elections, more use of highways and railways will create more jobs and also help defuse criticism around rising unemployment, sources say. High.


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