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Union Budget 2023: FM Increases Allocation to NHAI to Rs 1.62 Lakh Crore for FY24
The Union Budget 2023-24 has allocated an enhanced outlay of Rs 2.70 lakh crore for the highways sector.
Highlights
- FM Nirmala Sitharaman increased allocation to the NHAI.
- FM announced Rs 1.62 lakh crore for 2023-24.
- The Union Budget has allocated an enhanced outlay of Rs 2.7 lakh crore.
New Delhi: With the government betting big on infrastructure, finance minister Nirmala Sitharaman on Wednesday increased allocation to the state-owned National Highways Authority of India (NHAI) to Rs 1.62 lakh crore for 2023-24 from last year's revised allocation of Rs 1.42 lakh crore.
The Union Budget 2023-24 has allocated an enhanced outlay of Rs 2.70 lakh crore for the highways sector. (Also Read: Adani Enterprises Shares Nosedive 27%)
An allocation of Rs 1.99 lakh crore was made for the highways sector for 2022-23, which was revised to Rs 2.17 lakh crore. (Also Read: Union Budget 2023: Budgetary Allocation for Food & Public Distribution Department Cut by 30%)
NHAI and National Highways and Infrastructure Development Corporation Ltd (NHIDCL) are primarily responsible for the construction of national highways and expressways in India.