Govt to spend Rs. 5.35 lakh crore under Bharatmala
Government will be focusing on the improvement of road infrastructure for seamless connectivity to various part of India. Government is expected to spend around Rs. 5.35 lakh crore for building around 35,000 Km roads in first phase.
Further, government is confident of completing 9,000 Km national highway by 2018-19. Also, to build strong infrastructure in the country government would required around investment of Rs. 50 lac crore.
Besides, 99 cities are selected for smart cities project with an outflow of Rs 2.04 lac crore. Government aims to increase number of airports by five time from the current level of 125.
Infrastructure stock that spikes with this announcement are L&T spikes almost 3 per cent, Sadbav rise 2.3 per cent, and other major Infra stocks such as Ashoka Buildcon, IRB Infrastructure, GMR Infrastructure rose more than one per cent.