Indian government’s plan to build roads to stimulate economy
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, the Indian government is planning to build the biggest highway construction project in the country.
According to the plan, the government will develop over 83,000 km of roads by an investment of around $108 billion to boost the nation’s economy.
The plan will reportedly include a massive highway network of 34,000 km, which is expected to stimulate the private sector.
The project is planned to include constructing economic corridors across the country to ensure to reduce time transporting goods from the manufacturing sector, the media reported.
The extensive road-building project will reportedly be funded by market borrowings, highway toll collections and budgetary allocation as well as through partnership between public and private sectors.
However, it is claimed that India, which has the second largest road network and the world’s fastest-growing economy until earlier this year, will have to build 17,000 km of roads on average in order to complete the works in the course of the next five years as scheduled.
According to the plan, the government will develop over 83,000 km of roads by an investment of around $108 billion to boost the nation’s economy.
The plan will reportedly include a massive highway network of 34,000 km, which is expected to stimulate the private sector.
The project is planned to include constructing economic corridors across the country to ensure to reduce time transporting goods from the manufacturing sector, the media reported.
The extensive road-building project will reportedly be funded by market borrowings, highway toll collections and budgetary allocation as well as through partnership between public and private sectors.
However, it is claimed that India, which has the second largest road network and the world’s fastest-growing economy until earlier this year, will have to build 17,000 km of roads on average in order to complete the works in the course of the next five years as scheduled.
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