New Delhi: The state-level spend on roads in Maharashtra and Uttar Pradesh is expected to grow at an annual rate of 22 per cent to Rs 1.43 lakh crore by 2020- 2021, rating agency ICRA said on Tuesday. Capital expenditure (capex) by states on their roads is expected to witness robust growth over next three years supported by several highway projects launched/announced by Maharashtra and Uttar Pradesh, it said in a statement.
“ICRA estimates the state-level spend on roads to increase at a CAGR (compound annual growth rate) of 22 per cent from current level of Rs 96,000 crore in FY 2019 to Rs 1.43 lakh crore by FY 2021,” the statement said. In Maharashtra, the estimated spend in case of Nagpur-Mumbai expressway alone is Rs 35,000 crore over next three years in addition to proposed road improvement programme through hybrid annuity mode, it said.
