Monday, December 23, 2024
18.1 C
New Delhi

Bharatmala’s Multi-Billion Dollar Highway Overhaul

 A Game-Changer for India’s Infrastructure”

In 2017, the Central government introduced the ambitious Bharatmala Pariyojana. It is a highway development initiative aimed at enhancing connectivity across key economic corridors, border regions, and remote areas.

Image credit: The Economic Times

Overview of the project:

Name of the yojanaBharatmala Pariyojana
Year of inaugurationJuly 31, 2015
What is it?Second-largest highways construction project in India after National Highways Development Project
Ministry overseeingMinistry of Road Transport and Highways
Phases2
Estimated costRs 5.35 lakh crore
Agencies responsible for implementationNational Highways Authority of India, National Highway and Industrial Development Corporation, state public works departments
Objectives of this project· Establish 50 highway corridors across India. · Boost freight transport on national highways to 70%-80%. · Link approximately 550 districts with 4-lane highways or larger.
StatusActive

Significant Highlights of the Bharatmala Project:

The Bharatmala project is the India’s second-largest highway construction initiative after the National Highways Development Project. The project is designed to enhance the movement of goods, boost international trade, and reduce logistics costs.

According to Road Transport Minister Nitin Gadkari, the project is expected to significantly lower logistics costs. It will potentially reduce supply chain expenses from 18% to 6%. It will positively impact exports and attract investments.

The initiative focuses on increasing the efficiency of freight and passenger transportation by addressing key infrastructure gaps. This includes developing economic corridors, inter-corridors, feeder routes, coastal and port roads, border roads, international connectivity routes, and new expressways. These developments are poised to streamline the nation’s transportation network.

Recent progress in this initiative

The Bharatmala Pariyojana projects will now be directly managed & resumed by the Ministry of Road Transport and Highways.

Upcoming projects with budgets under Rs. 1,000 Crore are set to be awarded in the coming months, according to a senior official. The government’s goal is to accelerate the awarding of road contracts which faced significant delays this fiscal year. It was largely due to the suspension of the Bharatmala initiative stemming from rising costs.

The ministry is actively inviting bids for some pending projects and is also preparing detailed project reports for others. Initially, in 2017, the government aimed to construct 34,800 km of highways under the Bharatmala scheme, with a projected budget of Rs. 6,92,324 crores. To date, however, only 27,391 km of highways have been approved and awarded under phase I, totalling a capital expenditure of Rs. 8,75,774 crores.

Hot this week

Cryptocurrency: Financial Revolution or Fading Fantasy?

Introduction to Cryptocurrency Cryptocurrency has gained significant attention in recent...

Reliance Industries Names Ira Bindra as Head of People and Talent

Reliance Industries Ltd (RIL) has appointed Ira Bindra as...

What was the World’s 1st Text Message?

Today Marks 30 Years of the First Text Message;...

Rohit Sharma & Ritika Sajdeh Reveal Name of Their Son

Rohit Sharma and Ritika Sajdeh name their son Ahaan. The...

Bill Gates explains why his daughter can’t marry a poor man

“A few years ago I attended a conference in...

Topics

Cryptocurrency: Financial Revolution or Fading Fantasy?

Introduction to Cryptocurrency Cryptocurrency has gained significant attention in recent...

Reliance Industries Names Ira Bindra as Head of People and Talent

Reliance Industries Ltd (RIL) has appointed Ira Bindra as...

What was the World’s 1st Text Message?

Today Marks 30 Years of the First Text Message;...

Rohit Sharma & Ritika Sajdeh Reveal Name of Their Son

Rohit Sharma and Ritika Sajdeh name their son Ahaan. The...

Bill Gates explains why his daughter can’t marry a poor man

“A few years ago I attended a conference in...

Indian-Origin Man in Singapore Wins Rs 8 Crore Lottery After Buying Gold For Wife

An Indian-origin man in Singapore recently won an astounding...

Arvind Kejriwal attacked in Delhi with Suspicious Liquid Thrown at Him

Delhi: Man tries to 'attack' Kejriwal during Padyatra, throws...
spot_img

Related Articles

Popular Categories

spot_imgspot_img