Infrastructure
V Bhagya Subhashini
Aug 14, 2024, 10:07 AM | Updated 10:08 AM IST
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The central government's flagship road infrastructure project Bharatmala Pariyojana Phase-I, is now projected to be completed by 2027-28, as revealed in the Ministry of Road Transport and Highways (MoRTH) annual report for 2023-24.
Bharatmala Pariyojana Phase-I covers 34,800 km across 31 states, union territories, and over 550 districts. It has seen significant progress, with 26,425 km awarded and 17,411 km already constructed.
The program, initially approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2017, is designed to transform India's road network.
The project primarily focuses on developing 26,000 km of economic corridors, expected to handle a significant portion of India's road freight traffic, alongside the Golden Quadrilateral (GQ) and the North-South and East-West (NS-EW) Corridors.
Additionally, 8,000 km of interstate corridors and 7,500 km of feeder routes have been identified to enhance the efficiency of these economic corridors, reports Money Control.
The project, which has exceeded its initial expenditure limits, is currently awaiting approval for a revised financial proposal.
Initially estimated for Rs 6,92,324 crore, the Bharatmala project is funded through various sources, including the Central Road and Infrastructure Fund cess, remittances, budgetary support, highway monetisation, internal and extra-budgetary resources, and private sector investments.
However, rising project and land acquisition costs have necessitated a revision of the financial plans, which are currently under review.
The report also outlines MoRTH's Vision 2047 for the national highways sector, aimed at providing high-speed corridor access within 100-150 km to all citizens.
This vision is set to enhance passenger convenience by introducing world-class amenities across the nation's highways.
As the government pushes forward with this critical infrastructure initiative, the revised financial proposals will be crucial to ensuring the timely and successful completion of the Bharatmala Pariyojana Phase-I.
V Bhagya Subhashini is a staff writer at Swarajya. She tracks infrastructure developments.