In order to ensure smooth flow of funds to the country’s road and highway sector, the Union Government has allocated a total Gross Budgetary Support (GBS) of Rs. 46,834-cr including cess and toll remittance for 2016-17 for the transport ministry. In addition, Internal & Extra Budgetary Resources (IEBR) of Rs. 59,279-cr has also been allowed to be raised for Highways in 2016 -17, and to the Ministry of Shipping, the Government has allocated a total GBS of Rs. 1,531cr.
In addition, IEBR of Rs. 3,183.14-cr has also been allowed. There is a proposal to spend around Rs. 7 lakh-cr to develop National Highways of around 50,000 kms in the next 5 years. For Sagarmala Port Development, the project cost is Rs. 73,375-cr and in respect of Sagarmala Port Modernization, it is Rs. 9891cr. In the last two years, the Ministry of Road Transport and Highways approximately awarded projects of Rs. 2 lakh-cr. Plans have been prepared to award works of the same in five years.