Budget 2018: ICRA expects increase in budgetary allocation for highways

New Delhi: Allocation for highways sector in Union Budget 2018 is likely to be higher for FY19 in the range of Rs 80,000 to Rs 85,000 given the government's plans to build more roads, rating agency ICRA said today.In order to support the new programme, allocation for FY2019 is expected to be in the range of Rs 80,000-85,000 crore to Ministry of Road Transport and Highways as against Rs 64,900 crore for FY2018," ICRA said on Monday.[caption id="attachment_4256217" align="alignleft" width="380"] Representational image. News18[/caption]It said the infrastructure sector expects continued thrust from government towards revival of investment cycle in the form of further increase in budgetary allocations towards infrastructure sector with focus on roads, railways and urban infrastructure.Dedicated allocations for specified large infrastructure projects announced such as Bullet trains, Bharatmala, Sagarmala, Smart Cities, inland waterways development, etc, can also be made to expedite these projects."Further, NHAI market borrowings (IEBR) are estimated to be in the range of Rs 60,000-65,000 crore to support the new programme," it said.For full coverage of Union Budget 2018, click here.