The Union Budget for the financial year 2024-25 was announced on July 23, 2024, and there was positive news for the infrastructure sector which includes the roads and highways sector. The infrastructure sector was provided with a financial allocation of INR 11,11,111 crore (Indian Rupees eleven lakh eleven thousand one hundred and eleven crore) and which is equivalent to 3.4% of India's gross domestic product. Out of this allocation for the infrastructure sector, the allocation for the roads and highways sector was INR 2,78,000 crore (Indian Rupees two lakh seventy-eight thousand crore) which was among the highest of all sub-sectors comprising the infrastructure sector. This was supplemented by the announcement of an INR 26,000 crore (Indian Rupees twenty-six thousand crore) financial allocation for 4 (four) road connectivity projects, namely: (a) Patna-Purnea Expressway; (b) Buxar-Bhagalpur Expressway; (c) Bodhgaya, Rajgir, Vaishali and Darbhanga spurs; and (d) Additional 2 (two) lane bridge over river Ganga at Buxar.
The Budget also announced that Phase IV of the Pradhan Mantri Gram Sadak Yojana will be launched to provide all-weather road connectivity to 25,000 (twenty-five thousand) rural habitations who have become eligible in view of population increase.
Source: Budget Speech 2024-25
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