Source:https://timesofindia.indiatimes.com/business/india-business/railways-highway-mins-to-start-capex-from-april/articleshow/90041242.cms
Publisher: TOI
NEW DELHI: Railways and highways ministries are gearing up for a Rs 900-crore daily capital expenditure and setting their house in order to kick off the large spend on infrastructure creation from April itself.
The budgetary support for CAPEX for the two sectors is projected over Rs 3. 2 lakh crore, which is nearly 43% of the total estimate for all sectors. On top of this, railways have been allowed to raise another Rs 1.1 lakh crore from the market and for other ventures, including dedicated freight corridor and the bullet train. Similarly, the National Highways Authority of India (NHAI) can raise around Rs 25,000 crore from innovative financing such as InvIT and securitisation of future toll.
Considering the stiff target, railway minister Ashwini Vaishnaw has directed all general managers and chief administrative officers responsible for construction projects, to get the bid documents ready so that they can start inviting bids as soon as the Budget is passed by Parliament this month. Sources in the highways ministry said they have also stepped up the bidding process and there is a focus on accelerating construction of NH stretches for which works have been awarded.
Vaishnaw recently held a day-long review meeting with the top where he asked them to ensure that the work plans and target schedules are made available with the field engineers or officers. Similarly, there is a weekly review for highways to remove roadblocks for completing ongoing projects and changes in the scope of work.
