Calling for building expressways in high-density stretches, the Economic Survey asked the Government to shift focus from road construction to corridor management while lauding the fuel cess and toll-based revenue models for financing such mega projects.
An estimated Rs 65,000 crore (Rs 650 billion) at current prices was required for the National Highway Development Project entailing 4/6 laning of 14,279-km of National Highways.
Of the Rs 5,604 crore (Rs 56.04 billion) expenditure on the project in April-January this fiscal, Rs 1,848 crore (Rs 18.48 billion) came from cess on petrol and diesel and Rs 360 crore (Rs 3.6 billion) from tolls.
Substantial portions of the Phase-I of NHDP, Golden Quadrilateral, connecting the four major cities of Delhi, Mumbai, Chennai and Kolkata with four/six lane highways, have been completed, and are already fueling the growth of productivity in the country, the pre-budget report card of economy said.
"For completed stretches, the focus needs to shift from construction to corridor management, i.e. from optimally utilising the capital assets to derive the maximum throughput and world class levels of road safety," the Survey said.
"At the same time, a continuous, competition driven process needs to be in place for upgradation from four-lane highways to expressways in high-density stretches, and for construction of new links, such as a highway from Mumbai to Kolkata," it said.
