Cabinet approves Rs 7 lakh Cr mega highway plan; thousands to get jobs

INDORE, India - Oct. 24, 2017 - PRLog -- The Union Cabinet today approved Rs 7.00 lakh crore worth highway projects including the ambitious Bharatmala project to build over 20,000 km of highways in the first phase. The Bharatmala highway programme came up for approval in a meeting of the Union Cabinet in New Delhi, on Tuesday. The project is aimed at improving the traffic flow speed on key corridors and to make them shorter for quicker movement of cargo vehicles and lower logistics expenditure.
A formal statement in this regard is expected when FM Arun Jaitley addresses the media in a post-Cabinet media concluding later in the day.
With the Centre set to bear around 70% of the cost of this grand project, fuel tax, market borrowing, private investment together auctioning of completed highways is expected to cover the rest of the cost.
As per media report, the National Highways Authority of India (NHAI) has already set up detailed project reports for about 10,000 km of the identified network, which will facilitate faster roll-out of projects.
The planned project is expected to considerably increase the average distance a truck in India covers on a daily basis. According to the current estimates, deprived road conditions ensure that a truck covers an average of 250 to 300 km daily in comparison to 700-800 km in developed countries.
With the announcement, the govt intends to counter the criticism concerning to producing jobs. As per government estimates, the construction of 10,000 km of highways per year has the potential of generating four crore, based on a standard number of man-hours in a day of work.
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