Updates on Bharatmala Project: 53500 Crores poured to develop 34800 Kms

New Delhi, March 13: Bharatmala Pariyojana, a new umbrella programme that focuses on optimizing the efficiency of freight and passenger movement across the country. For this funds of Rs.5,35,000 Crore have been poured into the Project’s wallet to get it completed.

The Cabinet has accorded approval to the investment proposal for the programme Bharatmala Pariyojana (BMP) Phase-I on 24.10.2017 for development/upgradation of 34,800 km of National Highways (NHs). There are six components under this approved programme apart from balance works under the ongoing National Highways Development Project (NHDP). This is to be implemented over a period of five years from 2017-18 to 2021-22 with an approved outlay of Rs.5,35,000 Crore.

Mansukh L Mandaviain, MoS for Road Transport and Highways said in Rajya Sabha that 48,877 kms of projects under other ongoing schemes like NH(O), Special Accelerated Road Development Programme in North East (SARDP-NE), Externally Aided Projects (EAP) and Roads Projects in left Wing Extremism Affected Areas (LWE) are also to be implemented during the same period. This has an approved outlay of Rs.1,57,324 Crore. Therefore, including Bharatmala Pariyojana Phase-I, 83,677 kms of highway sector projects are proposed to be implemented with an overall cost of Rs.6,92,324 Crore.

Including Bharatmala Pariyojana Phase-I, 83,677 kms of highway sector projects are proposed to be implemented with an overall cost of Rs.6,92,324 Crore. Steps are being taken to realize the required fund for these. To augment budgetary resources of the Government, innovative methods of financing are being implemented by the Ministry/its implementing agencies.

National Highways Authority of India (NHAI) is borrowing from the market through the Internal Extra Budgetary Resources (IEBR) route. In 2017-18, NHAI has raised Rs 8,500 crore from LIC and Rs 10,000 crore from EPFO through taxable bonds.

Further, NHAI issued rupee denominated Masala Bonds of Rs 3,000 crores through the London Stock Exchange on 11.05.2017. In addition, NHAI is in the process of raising funds through monetization of operational National Highway assets through the Cabinet approved Toll-Operate-Transfer (TOT) model. The first bundle of TOT projects comprising nine project stretches with the aggregate length of around 680 km has already been bid out.