FM increases allocation to NHAI to Rs 1.62 lakh crore for FY24

With the government betting big on infrastructure, finance minister Nirmala Sitharaman on Wednesday increased allocation to state-owned National Highways Authority of India (NHAI) to Rs 1.62 lakh crore for 2023-24 from last year's revised allocation of Rs 1.42 lakh crore. The Union Budget 2023-24 has allocated an enhanced outlay of Rs 2.70 lakh crore for the highways sector.

An allocation of Rs 1.99 lakh crore was made for the highways sector for 2022-23, which was revised to Rs 2.17 lakh crore.

NHAI and National Highways and Infrastructure Development Corporation Ltd (NHIDCL) are primarily responsible for the construction of national highways and expressways in India.