The National Highways Authority of India (NHAI) has emerged as the top investor for the second year in a row among central government agencies and undertakings, which together met 97% of their FY22 revised target of Rs 5.75 trillion. NHAI invested 120% of its FY22 target while the railways, another large investor, met 79%.
The combined capital expenditure by 40-odd large CPSEs and departmental undertakings — all with annual capex budgets above Rs 500 crore — was Rs 5.55 trillion in FY22. This was 21% higher than the capital spending by these entities in the previous year.
NHAI was the largest investor with capex rollout of Rs 1.57 trillion in FY22, 21% more than the target of Rs 1.3 trillion and 26% more than a year ago. The authority, which is developing several expressways, including Delhi-Mumbai, Delhi-Katra, Bengaluru-Chennai and Delhi-Dehradun, built 4,325 km of roads in FY22.
