Centre allocates Rs 2.7 trillion to roads sector under Union Budget 2023-24

The Ministry of Road Transport and Highways’ (MoRTH) budget outlay rose by 24.4 per cent to Rs 2.7 trillion (budget estimate) in 2023-24 from Rs 2.17 tri­llion in 2022-23. The allocation nearly tripled between 2020-21 and 2023-24. The budget of the National Highways Authority of India grew by 14.89 per cent to Rs 1.62 trillion in 2023-24 from Rs 1.41 trillion in 2022-23. Higher budgetary allocations are necessary in the road sector and will help the ministry meet the 25,000 km road construction target an­n­­ounced in the 2022-23, amid rising interest expenses and increasing land acquisition costs.