FY24 highway capex starts on brisk note

In keeping with the government’s plan to front-load capital expenditure during the financial year, the ministry of road transport and highways has spent over 22% of its FY24 budget outlay for road building and allied activities in the first two months of the year. “Of the total gross budgetary support of Rs 2.58 trillion for capital spending the ministry has already spent Rs 59,078 crore till the end of May,” the ministry said.

With the brisk start to spending plans, the ministry is now targeting to use 91% of its allocation for the year by December-end. In recent years, in revised estimates the ministry has seen increase in allocations.