Transforming India: Highways to Prosperity

Union Minister Nitin Gadkari emphasizes the importance of infrastructure development in strengthening India's economy. The Ministry of Road Transport and Highways plans to convert 25,000-30,000 km of two-lane highways into four-lane highways, investing Rs 10 lakh crore and leveraging the InvIT model for funding. The BOT model's benefits and challenges are discussed.

Union Minister Nitin Gadkari emphasized infrastructure development as vital for bolstering India's economic might. Speaking on Thursday, he disclosed the ministry's decision to expand 25,000-30,000 km of two-lane highways into four lanes, with a monumental investment of Rs 10 lakh crore.

Gadkari highlighted the Ministry of Road Transport and Highways' strategic shift towards utilizing the Infrastructure Investment Trust (InvIT) model, a mutual fund-like instrument, for financing highway projects. This initiative aims to draw funds from Indian investors to fortify national highways.

The minister also discussed the government's plans to revise the Build-Operate-Transfer (BOT) model, with long-term toll collection agreements, while stressing the importance of quality and cost-control in highway construction projects.