The Indian government has been actively working on various initiatives to boost the countrys road infrastructure. In 2024, several new policies and projects are expected to significantly impact the road construction sector. This blog will delve into the details of these policies and their expected outcomes.
The Bharatmala Pariyojana is a flagship infrastructure project aimed at transforming Indias road network. The project involves the development of 34,800 km of national highway corridors at an approved outlay of ?5.35 lakh crore. As of November 2023, a total of 15,045 km of the total project have been completed, with an amount of ?4.10 lakh crore spent under the project.
Budget 2024 has allocated ?2.78 lakh crore to the Road Ministry, a marginal increase from the previous years allocation of ?2.7 lakh crore. Out of this, ?1.68 lakh crore has been earmarked for investment in NHAI for the development of national highway corridors under Bharatmala Pariyojana.
The government plans to issue tenders for 10,000 km of road projects by March 2024, a significant increase from the current pace. This move is expected to boost the road construction sector, which has seen a slowdown in recent months.
The Delhi governments 2024-25 budget has focused on improving road infrastructure in villages and the development of unauthorised colonies. The budget has allocated ?900 crore for the development of roads in villages and ?800 crore for the development of urbanised villages under the Dilli Gramoday Abhiyan.
The new policies and projects are expected to have a significant impact on the road construction sector. The increased allocation for Bharatmala Pariyojana and the tendering of new road projects will boost the sectors growth. Additionally, the focus on improving road infrastructure in villages and unauthorised colonies will benefit the local economies and improve the quality of life for residents.
In conclusion, the new government policies and projects in 2024 are expected to have a profound impact on the road construction sector in India. The increased allocation for Bharatmala Pariyojana, the tendering of new road projects, and the focus on improving road infrastructure in villages and unauthorised colonies will drive growth and development in the sector.
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As the road construction sector in India anticipates the ripple effects of new government policies and projects in 2024, lets stay attuned to the evolving landscape. The increased allocation for Bharatmala Pariyojana, coupled with the surge in tendering for new road projects, signals a promising trajectory for growth and development. Moreover, the targeted focus on enhancing road infrastructure in villages and unauthorised colonies underscores a commitment to inclusive progress. Join us as we navigate these transformative changes and explore the boundless opportunities they bring for the road construction sector and the nations infrastructure as a whole. Lets continue our journey towards a more connected and resilient future.
