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India`s NH construction to be around 32-34 km per day during current financial year: Crisil
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Rating agency Crisil in its latest report has said that India's national highway (NH) construction will likely reach only 32-34 km per day during the current financial year as input prices are expected to remain elevated. Further, the agency said it expects the pace of highway construction to pick up post monsoon.
It stated national highway projects hit a speed bump in the first quarter of this fiscal, with awarding by the Ministry of Road Transportation and Highways (MoRTH), including the National Highways Authority of India (NHAI), falling a sharp 42 per cent on-year to 969 km. It added construction also slackened, down 14 per cent on-year to 1,966 km, translating to 22 km per day, as a surge in input prices led to developers delaying procurement of materials.
It mentioned that India's national highway construction slowed to 28.64 km a day in 2021-22, due to COVID-19 pandemic-related disruptions and a longer-than-usual monsoon in some parts of the country. The pace of national highway construction in the country had touched a record 37 km per day in 2020-21.
