Bharatmala Pariyojana delayed
The Bharatmala Pariyojana that was scheduled to be completed in 2021-22 is to be completed by 2025-26. The announcement of delay was announced by the rating agency ICRA (Investment Information and credit Rating Agency).
Highlights
The prevailing COVID-19 crisis could delay the asset monetization plan of National Highway Authority of India (NHAI). Until February 2020, Rs 2.38 lakh crores were awarded to Bharatmala Pariyojana scheme. The average cost awarded to the scheme was Rs 23.8 crores per km. This was 54% higher than the estimated cost of Rs 15.52 crore per crore.
Bharatmala Pariyojana
The scheme was launched for road construction in India. It gives special importance to projects connecting far-flung areas and rural areas. The scheme will build 4-lane highways, move 80% freight traffic, interconnect logistics parks. It will also connect 7 north east Multi-Nodal Waterway ports.
Waterway Ports
There are 111 Inland waterways in India. They were identified under the National Waterways Act, 2016. Out of the 111, 106 were created in 2016.
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Month: Current Affairs - June, 2020