Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Politics / Policy/  Land acquisition issues delay road construction

New Delhi: Road construction in the country could meet only about half of the target set for the current fiscal at 6,300km till January this year, owing to various factors including land acquisition issues, Parliament was informed on Monday.

“Against the target for construction under various schemes of the ministry during the current year, 3,038km have been constructed till 31 January 2015, which is 10.13km per day," minister of state for road transport and highways Pon Radhakrishnan informed Rajya Sabha on Monday.

The minister added, “During the review meetings it is observed that the land acquisition is one of the reasons for delay of completion of projects." Out of the 17 projects awarded by NHAI during 2013-14, work has been started in case of 15 projects and in case of some of the projects progress is already 40-50%.

The government has decided that no projects should be awarded until 90% of the land is in possession for the EPC (engineering, procurement and construction) projects.

Ministry of road transport and highways has estimated an investment of close to 80,000 crore per year for highway projects which is likely to be met through cess fund, toll ploughback, budgetary support, market borrowings etc.

Replying to a question whether the government has identified Employees Provident Fund Organisation (EPFO) as a source for borrowing funds, the minister said, “It is pre-mature to indicate utilization of EPFO as a viable source."

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 02 Mar 2015, 10:53 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App