The chunk of it, Rs 30,000 cr in PPP
GN Bureau | February 8, 2010
In order to achieve its target of building 20 km of road every day, the National Highway Authority of India (NHAI) has sought a hike in its outlay for road building from Rs 29,000 crore in the current financial year to Rs 47,736 crore for the next. If the centre accepts the plan, it would be cool hike of 64% compared to the last year's outlay on this account.
Of the total outlay for next fiscal, Rs 30,000 crore would come through public-private partnerships and the rest from oil cess and borrowings. The authority borrows money from tax-free infrastructure bonds and external agencies.
Also, the road transport ministry has demanded a significant hike in its gross budgetary support, from Rs 15,450 crore (Budget Estimate for the last financial year) to Rs 25,050 crore. Sources in the know say the revised Budget Estimate for the current financial year will be Rs 20,000 crore.
Meanwhile, NHAI has been able to register a substantial rise in the number of projects awarded in the current financial year so far. The authority has so far been able to award 28 projects against a target of 126 for the entire financial year. Only eight projects were awarded in the last financial year.
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