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Our Bureau

New Delhi, Feb 29 Aiming to boost the road construction sector, the Government has proposed to increase the allocation for National Highways Development Programme (NHDP) to Rs 12,966 crore in 2008-09, up 19 per cent from Rs 10,867 crore in 2007-08.

“All phases of the NHDP continue to make progress. The completion ratio in the Golden Quadrilateral is 96.48 per cent and in the North-South, East-West Corridor project it is 23.36 per cent,” the Finance Minister, Mr P. Chidambaram, stated.

The Government has proposed to set aside Rs 4,000 crore in 2008-09 (same level as 2007-08) for the rural roads in the Rural Infrastructure Development Fund (RIDF). RIDF is the main instrument to channelise bank funds for financing rural infrastructure.

To boost rural infrastructure, it also proposes to raise the corpus of RIDF-XIV in 2008-09 to Rs 14,000 crore (against Rs 12,000 crore in RIDF-XIII, 2007-08).

More Stories on : Budget | Roadways

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Allocation for National Highways scheme up 19%

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