Never before has the Government of India allocated so much money for infrastructure projects for a year. The Union Govt.'' capital expenditure, as proposed in the Union budget, of ₹10 lakh crore, Or around $122 billion for the upcoming FY, is mammoth. The spending is more than Kenya's nominal gross domestic product (GDP) or approx. The economy of Morocco.
Dedicating a significant expenditure to a single sector is a new phenomenon in India. Three years ago, in pre-Covid FY of 2019- 20, the Centre's total capital investment expenditure was only ₹3.4 lakh crore.
The expenditure for the roads and highways sector has increased 22 percent YoY to Rs 2.9 lakh crore for FY 2023 - 24 versus the higher-than-expected spending of Rs 2.4 lakh crore in FY 2022 - 23. "This sums up the 14 percent YoY higher allocation to National Highways Authority of India (NHAI), 44 percent YoY higher allocation to road works, and flat allocation to PM Gram Sadak Yojana,". This means the bidding for road projects and construction will get a major boost in FY 2023 - 24.