NEW DELHI: The Life Insurance Corporation has come to the rescue of the Central government, which has decided to follow the path of fiscal prudence, to fund the government’s high-profile highway project — Bharatmala Pariyojana — with huge cost over-runs. LIC has agreed to dole out Rs 1.25 lakh crore by 2024 to fund the projects.
“LIC has offered us Rs 25,000 crore in a year and Rs 1.25 lakh crore in five years. They have agreed in principle. We will rope in these funds in highways construction,” said Minister of Road Transport and Highways Nitin Gadkari.
