Govt to award ₹7 lakh crore in road projects this year, targets ₹10 lakh crore annually from FY27: Nitin Gadkari
The government will award ₹7 lakh crore worth of road projects in 2025-26 and raise the target to ₹10 lakh crore per year starting next fiscal year, road transport and highways minister Nitin Gadkari said."The sector witnessed some slowdown in the last one year due to the cancellation of the Bharatmala project ," Gadkari said at the annual session of Indian Construction Equipment Manufacturers' Association (ICEMA) on Thursday."But in the current year we have already awarded projects worth ₹2 lakh crore and the plan is to award another ₹5 lakh crore worth of road projects by the end of this year, taking the total to ₹7 lakh crore," he said.Going forward, the target is to award projects worth ₹10 lakh crore every year, he said, adding that the process is transparent, time bound and corruption free, and there is no shortage of funds.Gadkari reiterated his desire to achieve the daily construction rate of 100 km per day as against the highest of 37 km per day in 2020-21.Addressing the construction equipment industry , Gadkari said his ministry is deliberating over incentives to the industry if they opt for alternate fuels and flex engines as it will be a win-win for all stakeholders. "We are considering an interest-free loan to construction equipment makers who develop equipments running on alternate fuels," he said."Besides, a relief on one-time tax on constitution equipment registration running on alternate fuels is also under consideration," he said, prodding the industry to switch to alternate and sustainable fuel options."This will substitute for huge fuel imports amounting to ₹22 lakh crore per annum, will be cost effective, pollution free and indigenously developed," he said.
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