Infrastructure firms and analysts have welcomed the government’s Bharatmala project to build 83,000 kms of highways worth ₹7 lakh crore to boost economic activity in the country.
S.N. Subrahmanyan, chief executive officer and managing director, Larsen & Toubro Ltd. said, “It is a fantastic move and is in line with the government’s many reforms of the road construction sector. This new project will improve road connectivity across the country and it is good for all including infrastructure companies like L&T. Roads will improve the economy for sure.”
“It is a welcome move. It will create jobs. We are anyway lacking in infrastructure and this will help. Now it is premature to comment,” said Ajit Gulabchand, CMD, HCC Ltd. Manish B. Agarwal, partner and leader, Infrastructure, PwC India, said: “In the Bharatmala programme, the focus on economic corridors will ensure that investments are focused on economic returns. This ambitious project will create new industrial corridors and urban centres. This will also enhance economic activity in the country. The infrastructure will create more wealth for the nation.”
He said the construction activity would give a boost to the economy by creating jobs and enhancing consumption. ASSOCHAM secretary general D.S. Rawat said that the key of the road building project lay in speeding up the work.
He said a whole lot of infra industries such as cement and steel, would get a boost.
