With just four months left for the fiscal year to end, it appears unlikely the target will be met even if spending is speeded up, two people aware of the development said.
The April-November period saw road sector capex at about ₹1.49 lakh crore, road ministry data showed, against a record ₹2.72 lakh crore allocated by the Union budget. The budget had allocated the sum to complete work on at least 13,000km of highways, including some stretches on access-controlled expressways.
However, backlogs and delays in getting clearances, especially for land acquisition, slowed many greenfield and brownfield projects, one of the two people cited before said. Work is progressing only in projects that have missed deadlines, the person added.
"The pace of construction has been slower than planned. While there were a variety of unique factors this year (for example, the model code of conduct before the Lok Sabha election) that led to this, given that most new national highways are greenfield alignments, construction will continue to be lumpy for such projects," said Srishti Ahuja, investment banking partner (infrastructure), EY India.
This story is from the December 17, 2024 edition of Hindustan Times Thane.
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This story is from the December 17, 2024 edition of Hindustan Times Thane.
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