Govt constructs 12,349 Kms of Highways in FY24, Second Highest in history

Record highway construction: The Ministry of Road Transport and Highways (MoRTH) has marked a significant feat by constructing 12,349 kilometres of national highways during the fiscal year 2023-24. This accomplishment, although slightly below the record-breaking figures of the previous year, highlights the government's steadfast dedication to bolstering infrastructure and connectivity across the nation.MoRTH's completion of 12,349 kilometres of national highways exemplifies the government's relentless pursuit of infrastructure expansion. Despite challenges, including the pandemic, this notable milestone reflects sustained progress in advancing India's road network.The ministry's construction figures demonstrate a consistent upward trajectory, affirming the government's unwavering commitment to infrastructure development. This upward trend signals positive momentum in addressing infrastructure needs and fostering economic growth.MoRTH's proactive approach is evident in awarding 8,581 national highway projects during the fiscal year. These awards signify the government's proactive stance in advancing road infrastructure, which is crucial for bolstering connectivity and driving economic prosperity.Major Infra ProjectsIn a recent analysis of India's infrastructure, the Ministry of Statistics and Programme Implementation (MoSPI) has unveiled insights into the country's development trajectory. According to the MoSPI infrastructure tracker, major infra projects growth up by 168 per cent between FY14 to FY24.In a recent analysis of India's infrastructure, the Ministry of Statistics and Programme Implementation (MoSPI) has unveiled insights into the country's development trajectory. The analysis revealed that roads, railways, petroleum, coal, and power sectors collectively accounted for over 90 per cent of the total major infrastructure pro The data revealed a staggering 168 per cent increase in major infrastructure projects (valued above Rs 1.5 billion ) between FY14 and FY24, showcasing an accelerated pace of development compared to the preceding decade. Over this period, the original cost of major projects tracked by MoSPI has skyrocketed from Rs 8 trillion to Rs 27 trillion, signifying an impressive 240 per cent surge. Roads Taking Center StageAnother trend observed was the significant shift towards road infrastructure. While railways dominated in FY14, roads have now emerged as the dominant sector, commanding 58 per cent of the 1,902 major projects tracked by MoSPI in FY24. The analysis revealed that roads, railways, petroleum, coal, and power sectors collectively accounted for over 90 per cent of the total major infrastructure projects. Despite their prevalence, road projects emerged as the most cost-effective, with an average original cost of Rs 7.7 billion, while urban development projects proved to be the most expensive. Navigating Cost OverrunsWhile road projects demonstrated commendable efficiency with minimal average cost overruns of 3 per cent, power and railway projects faced more significant challenges, experiencing cost overruns of 20 per cent and 52 per cent respectively. These insights underscore the importance of efficient project management and resource allocation in mitigating cost escalations. Government Focus and Implications The government's unwavering focus on road and railway infrastructure aligns with India's ambitions to position itself as a cost-competitive manufacturing hub. With increased capital expenditure allocations to these sectors, coupled with prudent fiscal measures, India aims to fortify its infrastructure backbone to support sustained economic growth and development.

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Govt constructs 12,349 Kms of Highways in FY24, Second Highest in history

This upward trend signals positive momentum in addressing infrastructure needs and fostering economic growth.

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