The 34,800-km highway development programme under Bharatmala Pariyojana Programme (BMP), launched in 2015 with an estimated outlay of Rs 5.35-trillion, may see a six-year time overrun and a near 100% cost overrun, rating agency ICRA has estimated.
Apart from the road wings of the ministry of road transport and highways and National Highways Infrastructure Development Corporation (NHIDCL), the National Highways Authority of India (NHAI) are implementing the BMP. The programme initally was projected to be completed by FY22. Assuming an annual execution of around 4,500-5,000 km from FY23 onwards, the BMP programme is expected to be completed in FY28, ICRA said.
