Breaking News

You are here » Indian-Commodity  :  Economy  :  Lower highway projects award target for FY19 raises challenges for Bharatmala programme: ICRA


Lower highway projects award target for FY19 raises challenges for Bharatmala programme: ICRA

Domestic credit rating agency, ICRA in its latest report has said that the Ministry of Road Transportation and Highways' lower target of awarding works for around 20,000 kilometres (km) length of National Highways during 2018-19, would make achievement of the Bharatmala programme's goals more challenging.

According to the report, in order to achieve the ambitious target for new highway development programme, which is 83,677 km by FY22, the award rate has to be more than double from what it was in FY18. It also pointed out that the target for FY19 has instead been lowered to 20,000 km from 25,000 km last year, which makes the achievement of Bharatmala targets even more challenging.

The rating agency has stated that this lower target is, however, about 17 percent more than the 17,055 km awarded during FY18, which by far has been the best year for the ministry, both in terms of execution and projects awarded. It also said that the government has decided to focus more execution in the current year. It added that given the ambitious target in Bharatmala the award rate should be upwards of 40,000 km for the next two years - FY19 and FY20.

Related News

View all news

Suresh Prabhu reviews proposed agriculture export, new industrial policies

Commerce and Industry Minister Suresh Prabhu has reviewed proposed agriculture export policy and new industrial policies. He also scrutinized various export promotion strategies. He said that the government......

India needs to improve wage policies to promote inclusive growth: ILO

In order to promote inclusive growth in India, the International Labour Organisation (ILO) in its latest report title 'India Wage Report: Wage policies for decent work and inclusive growth' has stated......

Need to boost crop productivity using fewer resources to double farmers' income: Niti Aayog

In order to achieve the target of doubling farmers' income by 2022, the Niti Aayog member Ramesh Chand has said that there is a need to boost crop productivity using fewer resources. He also pointed out......

Top News

View all news

Uday Jewellery commences manufacturing activities at Hyderabad unit

Uday Jewellery Industries has commenced the manufacturing activities in premises situated at Hyderabad taken on lease for enhancement of its manufacturing capabilities for manufacture of specialty jewellery......

Strides Shasun's arm receives acceptance from USFDA for two key ANDAs

Strides Shasun's step-down wholly owned subsidiary, Strides Pharma Global, Singapore has received Abbreviated New Drug Application (ANDA) “acceptable for filing” correspondence from the United States Food......

IDBI Bank sells 3.90% stake in NSDL

IDBI Bank has sold 15,60,000 equity shares constituting 3.90% of the paid up capital of National Securities Depository (NSDL) on August 21, 2018.IDBI Bank is the youngest, new generation public sector......