Infrastructure
Government Raises Record-Breaking Rs 70,000 Crore From Highway Monetisation, To Fuel Infrastructure Development
- The improved connectivity will contribute to the overall growth and progress of the nation.
Union Minister Nitin Gadkari. (Sushil Kumar/Hindustan Times via Getty Images)
The government has collected Rs 70,000 crore from the monetisation of highway projects, according to Minister for Road and Highways Nitin Gadkari. These funds will be used for further development of highways.
A total of Rs 26,000 crore has been raised through the Toll Operate Transfer (TOT) model, Rs 10,000 crore through InvIT, and Rs 34,000 crore through Special Purpose for identified projects.
Gadkari made these statements at the 'Management Development Program on Infrastructure Financing' organised by IIM Kozhikode.
Gadkari emphasised the importance of asset monetisation for infrastructure investment. He mentioned that the National Highways Authority of India has a 27 per cent share in the national monetisation pipeline.
Additionally, he highlighted the government's efforts in constructing 10,000 km of greenfield expressway projects under the Bharatmala Programme, with a total cost of Rs 4.5 trillion, according to the Financial Express report.
India's National Highway (NH) network has experienced significant growth over the years. According to the minister, it has expanded from 91,000 km in 2014 to nearly 1.45 lakh km at present.
This expansion has been facilitated by the government's focus on national infrastructure development, including the implementation of the national infrastructure pipeline and PM Gati Shakti National master plan.
As part of these initiatives, the government is investing in the construction of 335 multimodal logistics parks with a budget of Rs 2 trillion, as well as the establishment of 1,200 km of ropeways with an investment of Rs 1.3 trillion.
The implementation of these programs is expected to bring about integrated and holistic development in the country.
By connecting remote areas through new infrastructure projects, these initiatives will not only save costs but also reduce travel time. The improved connectivity will contribute to the overall growth and progress of the nation.
