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Union Cabinet approves ₹70,125 crore for rural road scheme

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Synopsis:

The Union Cabinet approved ₹70,125 crore for Pradhan Mantri Gram Sadak Yojana-IV to connect 25,000 unconnected habitations. The project will construct 62,500 km of roads and bridges over the next four years.

Union Cabinet news today

The Union Cabinet has significantly boosted rural road infrastructure with an approval of ₹70,125 crore for the Pradhan Mantri Gram Sadak Yojana-IV (PMGSY-IV). This ambitious project is set to improve road connectivity for 25,000 unconnected habitations across the country, focusing on areas that currently lack all-weather road access.

Focus on rural development and connectivity

This new phase of the Pradhan Mantri Gram Sadak Yojana is designed to address the gap in rural road networks, with the government planning to construct 62,500 km of all-weather roads and bridges over the next four years. These roads are intended to connect habitations with a population of over 500 in plain regions and over 250 in northeastern, hill states, union territories, tribal regions, and deserts.

Financial framework

Of the approved ₹70,125 crore outlay, the central government will contribute ₹49,087 crore, while the remaining ₹21,038 crore will come from state governments. This collaborative financial structure highlights the Centre-state partnership in enhancing rural connectivity.

The allocation is scheduled to be disbursed over four fiscal years, from 2024-25 to 2028-29. The Department of Rural Development will be responsible for executing the project, ensuring that the roads are constructed to meet the highest standards of durability and accessibility.

Expected benefits of the scheme

The aim of the PMGSY-IV is not only to improve physical connectivity but also to facilitate socio-economic development in the targeted habitations. By providing better access to markets, schools, healthcare centres, and other essential services, the new roads will help bridge the urban-rural divide, enabling more inclusive growth.

In particular, the new infrastructure is expected to benefit areas that have historically struggled with poor access to essential services. With improved road networks, residents in remote regions will have better opportunities for economic activities, including agriculture and small-scale industries.

The Cabinet’s approval of ₹70,125 crore for rural road development underlines the government's commitment to enhancing infrastructure in remote areas. With the expansion of road networks over the next four years, the Pradhan Mantri Gram Sadak Yojana-IV will play a key role in bridging connectivity gaps and fostering rural development across the country.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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