Updated February 1st, 2024 at 15:12 IST
Budget 2024: NHAI allocation rise marginally to Rs 1.68 lakh crore
The budget document outlines a marginally enhanced outlay of Rs 2.78 lakh crore for the highways sector.
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Interim Budget 2024: In the Interim Budget 2024-25, Finance Minister Nirmala Sitharaman has slightly increased the allocation for the state-owned National Highways Authority of India (NHAI) to Rs 1.68 lakh crore, up from the revised allocation of Rs 1.67 lakh crore in the previous year.
The budget document outlines a marginally enhanced outlay of Rs 2.78 lakh crore for the highways sector. For the fiscal year 2023-24, an allocation of Rs 2.70 lakh crore was initially made for the highways sector, which was later revised to Rs 2.76 lakh crore.
NHAI and the National Highways and Infrastructure Development Corporation Ltd (NHIDCL) play crucial roles in the construction of national highways and expressways in India. This allocation reflects the government's commitment to the development and maintenance of the country's vital transportation infrastructure.
The interim Budget has allocated Rs 6.2 lakh crore to the Ministry of Defence, the highest among all allocations, followed by Rs 2.78 lakh crore to the Ministry of Road Transport and Highways. Additionally, the Ministry of Railways received Rs 2.55 lakh crore in allocations while the Ministry of Consumer Affairs, Food and Public Distribution received Rs 2.13 lakh crore.
The Ministry of Home Affairs received Rs 2.03 lakh crore while the Ministry of Rural Development has been allocated Rs 1.77 lakh crore. The Ministry of Chemicals and Fertilizers received Rs 1.68 lakh crore, the Ministry of Communications received Rs 1.37 lakh crore and the Ministry of Agriculture and Farmers Welfare secured Rs 1.27 lakh crore in allocation
(With PTI inputs)
Published February 1st, 2024 at 15:12 IST