Google News has released the first report on road construction costs in India since 2012, revealing a massive growth in construction costs since then.
The report says that the cost of building a new road is now around 25% higher than the cost it cost in 2011, while road widening has increased by 50% in the last four years.
In the report, the National Transport and Highways Authority of India (NTIA) says that about $1.8 billion has been invested in road widening since 2012.
This compares to $600 million spent in 2011.
This has come despite the fact that construction costs for roads in India are set to fall from the high of $2.5 billion in 2011 to about $2 billion in 2021.
This is despite the number of roads built in the country dropping from 2.3 million in 2011 as compared to 3.5 million in 2021, according to the NTIA.
The cost of roads in the future could fall by another 1% in 2021 to $1 billion, but this will depend on the amount of construction that is carried out, said NTIA chairman and managing director of roads Rajiv Kumar.
This could lead to an increase in road construction spending.
The report also shows that the number and size of projects being funded by the government are expected to increase by 10-20%.
In 2020, the government allocated Rs 3,000 crore for road projects, up from Rs 1,800 crore in 2020.
The total cost of all projects that are funded is expected to be around $5 billion.
The NTIA also said that road widening projects will continue to rise, while in 2021 and 2022, the number in progress will be higher.
It added that the NTI had spent about $500 million on road widening in 2021 alone.
The number of highways widened will continue on a per capita basis from 2021 to 2024.
The report notes that in 2020, only two-thirds of the roads in existence in India were in use, while by 2021, only 47% of the highways in existence were in place.
This is due to the ongoing slowdown in construction.
The remaining highway was being built by private companies, but the NTRI has been keen to make the process as transparent as possible.
The Indian National Road Transport and Development Authority (INRTA) has also been given an “exemplary” status for 2017, a move that is seen as a response to the growing cost of the road construction.
In a statement, INRTA said that the “exposure of the Indian National Transport System to external risks is well documented and is a requirement for its operation and development”.