NHAI to Raise Bond Targets to Fund the Bharatmala Project
In October 2017, the Government of India announced an umbrella program for the highway development of the nation, called the Bharatmala Program. Focusing on enhancing the efficiency of the traffic movement on the roads by building better infrastructure, the Bharatmala Program is the second largest highway development program since the National Highways Development Project (NHDP) in 1998. With the implementation of the program, the country will be getting 50 national corridors as compared to the 6 existing corridors. According to Shri Nitin Gadkari, Minister of Road Transport & Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation, with the Bharatmala Program, 550 districts will be interconnected all over India. The Bharatmala Program has been assigned to the National Highways Authority of India. The Bharatmala Program has been received with techieflake and has been garnering significant financial support. However, NHAI has decided to hike the alloted b...