The development of road infrastructure in India is witnessing great momentum. Forceful demand, high investments and attractive openings together with policy support altered the scenario of road sector in India within three years of duration.
The road network in India is considered to be the second largest around the globe at 5.4 million km and with the fast development in national as well as state highways; the road network here is bound to expand exponentially. The road transport in the country is one of the most important concerns for the government of India as the roads hold over 60% of all items and 85% cent of complete passenger traffic.
The government of India evaluated the growing road traffic and for boosting the road network, it owed near about $10.13 billion for the expansion of national highways in its financial plan for the year 17-18. The Road, Transport as well as the Shipping Ministry led by the minister, Nitin Gadkari, catered to the increasing need and showed up with numerous policies & schemes together with business-friendly strategies to build up the road sector further.
The country’s government has previously fast-tracked minimum of 24 roads & highway projects. Moreover, the government is under the set up to support nearly 10,000kms of national highways. Adding more to this point, the National Highways Authority of India (NHAI) had planned to construct near about 50,000 km of roads with the cost of nearly $250 billion by the year 2022. This project is a part of long-term goal of increasing the national highway network’s length to 2 lakh kilometres.
The government is also getting started with several new projects across the entire nation just for solving the issues of common people. The ministry has announced various remarkable inclinations that will help the country to turn up as the best in road infrastructure in future.
Some of these trends that ensure improved travel, connectivity and infrastructure are given below:
- The NHAI is making efforts like assisting with web-based sale of FASTgas together with the offline sale by Common Services Centre (CSC) close to toll plazas. This is done to guarantee the accessibility of FASTags for the electronic collection of toll.
- The kind of PPP models utilized in the road projects are BOT or the Build Operate Transfer toll and BOT allowance. For the duration of next 5 years, the speculation through PPP is estimated to be dollar 31 billion.
- The increasing FDI inflows in sector of construction development, together with roads & highways that stood at an amount of dollar 24.54 billion till the month of June 2017. This is anticipated to develop as the ministry has appeared with initiatives that are trade-friendly.