India clears Rs 7 lakh crore highway project |
The Indian Cabinet has cleared the Bharatmala project to construct 20,000 km of highways connecting western and eastern parts of the country at an estimated investment of Rs 7 lakh crore. In the first phase to be undertaken over three-five years, the project would cost Rs 5.5 lakh crore. The project would be funded through various sources, including Rs 2.09 lakh crore from the market, Rs 1.06 lakh crore through private investment and Rs 2.19 lakh crore from the central road fund or toll collection. The roads that would be built under Bharatmala will include state highways, national highways and some state roads across the country. Every state will get proportional projects under the scheme. Bharatmala is the largest highways project after the National Highway Development Programme (NHDP) which saw the development of about 50,000 km, and aims at improving connectivity in border and other areas.
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