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Business News/ Industry / Infrastructure/  NHAI reports highest-ever highway construction in FY24
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NHAI reports highest-ever highway construction in FY24

The state-owned company built 6,644 km of national highways in FY24 against the target of 6,544 km. In FY23 it built 5,544 km of national highways.

NHAI also registered its highest ever capital expenditure of ₹2.07 trillion in FY24, up 20% from ₹1.73 trillion in FY23 and ₹1.72 trillion in FY22.Premium
NHAI also registered its highest ever capital expenditure of 2.07 trillion in FY24, up 20% from 1.73 trillion in FY23 and 1.72 trillion in FY22.

The National Highways Authority of India (NHAI) has said highway construction grew 20% in FY24 to its highest ever in a fiscal year. The state-owned highway developer built 6,644 km of national highways in FY24 against the target of 6,544 km. In FY23, NHAI built 5,544 km of national highways.

With only 9,088 km of new highways built as of February-end overall highway construction may miss the target of 13,814 km by a wide margin, though the ministry of road transport and highways said it remains optimistic about ending FY24 with 12,000-13,000 km of new highways. The National Highways & Infrastructure Development Corporation Ltd. (NHIDCL) and state government agencies also build highways in India.

NHAI also registered its highest ever capital expenditure of 2.07 trillion in FY24, up 20% from 1.73 trillion in FY23 and 1.72 trillion in FY22. The road ministry’s gross budget support (GBS) for capex in FY24 is 2.64 trillion and actual expenditure as of February 2024 is 2.34 trillion.

Late surge

Highway construction picked up pace in January and February, with over 3,000 km of highways being added to the network in a late push.

In the first 11 months of FY24—that's up to February-end—9,088 km of highways had been constructed, more than the previous year's 8,064 km. But the bulk of the push has come in the last few months of the year, with 2,872 km being constructed in January and February alone.

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ABOUT THE AUTHOR
Subhash Narayan
Subhash is the infrastructure editor at Mint and tracks the momentous developments taking place in the space that is fast changing the Indian landscape. He feels that reporting has been a passion that provides the necessary adrenaline rush and keeps you going.
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Published: 02 Apr 2024, 07:59 PM IST
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