Union Budget 2023: FM Increases Allocation to NHAI to Rs 1.62 Lakh Crore for FY24

New Delhi: With the government betting big on infrastructure, finance minister Nirmala Sitharaman on Wednesday increased allocation to the state-owned National Highways Authority of India (NHAI) to Rs 1.62 lakh crore for 2023-24 from last year's revised allocation of Rs 1.42 lakh crore.

The Union Budget 2023-24 has allocated an enhanced outlay of Rs 2.70 lakh crore for the highways sector. (Also Read: Adani Enterprises Shares Nosedive 27%)

An allocation of Rs 1.99 lakh crore was made for the highways sector for 2022-23, which was revised to Rs 2.17 lakh crore. (Also Read: Union Budget 2023: Budgetary Allocation for Food & Public Distribution Department Cut by 30%)

NHAI and National Highways and Infrastructure Development Corporation Ltd (NHIDCL) are primarily responsible for the construction of national highways and expressways in India.