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The Ministry of Road Transport and Highways in India has more than doubled the road projects target to 25,000km for the ongoing fiscal year.

The ministry has decided to lay more than 40km of roads every day across the country in 2016-17, which would be more than double the current average.

During the present fiscal year, the National Highways Authority of India (NHAI) has planned to build 8,000km of roads and highways across India.

The Industrial Development Corporation (NHIDCL), which is responsible for constructing roads on hilly regions, will aim to build 7,000km, as stated by a senior official of the Indian road ministry.

The ministry was quoted by PTI as saying: "Minister of Road Transport and Highways Nitin Gadkari has fixed 2.5 times increase in the target for award and construction of National Highways for the year 2016-17."

Last fiscal year, the Road Transport and Highways Ministry awarded a total of 10,000km of road contracts worth Rs1,000bn ($15bn).

Of the 10,000km, the government successfully constructed 6,000km of highways, which accounted for a 36% rise against the previous fiscal year.

According to the official, the roads contract target for the present year has been set at 25,000km, while the construction target has been fixed at 15,000km.

"The ministry has decided to lay more than 40km of roads every day across the country in 2016-17, which would be more than double the current average."

However, the budget for the current fiscal year has set the road construction target at 10,000km, reported The Economic Times.

In the current budget, the road ministry has received a funding of Rs570bn ($8.5bn), while NHAI has been allowed to raise tax-free bonds of Rs150bn ($2.2 bn).

The ministry also expects to raise funds through EPFO and LIC as well as by leasing out existing projects on toll-operate-transfer (TOT) model.

NHAI has recently made cashless payment mechanism operational at 275 of 350 toll plazas across India.

Image: A road in India. Photo: courtesy of jk1991 / Freedigitalphotos.