Road Ministry – By the end of the fiscal year, the Ministry of Road Transport and Highways (MoRTH) will have spent roughly 91% of its budgetary allotment. The ministry’s overall gross budgeted spending for fiscal year 2023-24 is Rs 2,58,606 crore, with actual expenditure in the first two months exceeding Rs 60,000 crore.
According to insiders, the government is hastening roadway building and land purchase.
Road Ministry
A total of 170 land purchase notifications have been issued, with the Ministry already processing compensation worth about Rs 210 crore.
The ministry’s aggressive expenditure implies that the roadways sector can absorb additional money in its ecosystem.
According to ministry authorities, national highway development was up 10% year on year in May, with 1,465 km built vs 1,307 km in the same month in 2022-23.
In May, around 382 kilometres of new road building contracts were issued, which is less than the 496 kilometres won during the same period the previous year.
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