The Economic Survey presented by Finance Minister Nirmala Sitharaman on Monday said there has been a consistent increase in the construction of National Highways/roads since 2013-14, with 13,327 kilometres constructed in 2020-21.
Labelling infrastructure as the backbone for any economy, the Economic Survey said the extent and quality of infrastructure determines the ability of a country to utilise its comparative advantage and enables cost competitiveness. The Survey further said that in 2021-22 (till September), 3,824 kilometres of road network was constructed.
"There has been a consistent increase in the construction of National Highways/roads since 2013-14 with 13,327 kms of roads constructed in 2020-21 as compared to 10,237 kms in 2019-20, indicating an increase of 30.2 percent over the previous year," it said.
Also Read
According to the Survey, the significant upturn in road construction in 2020-21 was due to the increase in public expenditure by 29.5 percent as compared to the previous year -- a reflection of the impetus given by the government to a critical sector that generates employment and supports infrastructure during a pandemic year.
It also noted that road infrastructure is widely recognised as a potent means of socio-economic integration and is vital for the economic development of the country.
(With inputs from PTI)
(Edited by : Priyanka Deshpande)
First Published: Jan 31, 2022 4:09 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
I.N.D.I.A. bloc committed to predictable and stable tax environment: Jairam Ramesh
May 21, 2024 6:33 PM
Exclusive | INDIA bloc will ensure stable policy framework, simple GST, end tax terrorism: Jairam Ramesh
May 21, 2024 5:02 PM
Cong leaders 'failed' to protect party's constitution says FM Nirmala Sitharaman in Bihar
May 21, 2024 4:01 PM
Who will succeed Modi? Oppn thinks Amit Shah will, but PM said this
May 21, 2024 2:38 PM