India : Ministers panel to explore road, highways financing.Byline: shiv03 An Empowered Group of Ministers (EGoM) will meet later this month to explore financing options for highways projects, Transport Minister Kamal Nath Shri Kamal Nath (born 18 November, 1946) is a cabinet minister in Ministry of Commerce and Industry. He is a member of the 14th Lok Sabha of India. He represents the Chhindwara constituency of Madhya Pradesh and is a member of the Indian National Congress (INC) political party. said today. According to government estimates, the road infrastructure sector, key to economic growth, requires around $80 billion (Rs 3,76,000 crore n. 1. Ten millions; as, a crore of rupees (which is nearly $5,000,000) s>. Noun 1. crore - the number that is represented as a one followed by 7 zeros; ten million ) in the next four years. Nath said the EGoM being set up would "examine how External Commercial Borrowings (ECBs) can be accessed for the road and highways sector at easier terms". The EGoM would include Finance Minister Pranab Mukherji, Planning Commission Deputy Chairman Montek Singh Ahluwalia Montek Singh Ahluwalia (born November 24,1943) has been a key figure in India's economic reforms from the early 1980s onwards. He is currently the Deputy Chairman of the Planning Commission, India. and Nath. Nath extended the target date of awarding about 12,000 km of highway projects by June next year. He had earlier said that these projects would be awarded by March next year. He said a separate division has been created in the National Highways Authority of India The National Highways Authority of India (NHAI) is the national authority for the management of a network of over 60,000 km of National Highways in India[1]. The Authority is a part of the Ministry of Shipping, Road Transport and Highways. to look at the requirements of development of expressways in the country. A total of 954 kms of highways have been constructed between May and September, averaging at 6.5 kms per day. Plans are also underway for setting up an Expressways Authority of India for the purpose. The Ministry plans to build a total of 17,661 kms of access-controlled expressways in the country. For decentralising Adj. 1. decentralising - tending away from a central point decentralizing centralising, centralizing - tending to draw to a central point centralising, centralizing - tending to draw to a central point the NHAI NHAI National Highway Authority of India , as many as 10 regional offices of the Authority would be set up across the country for better co-ordination with state governments for highway development. "Ten regional offices of NHAI would be set up. They would be headed by Chief General Managers of NHAI," Nath said at the Economic Editor's Conference here. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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