India is planning to kickstart the countries economic growth by building a huge road network. The gamble sounds like a sure thing, but is it?
The countries economy grew at its slowest pace in the last quarter. Growth has now declined for six straight quarters in a row.
The Indian government said that substantial delegation of powers has been provided to the National Highways Authority of India to complete the plans.
India has one of the largest road networks in the world, comprising national highways, state highways, and district, rural and village roads.
This massive project should help a significant portion of the one million Indian’s find jobs. According to statistics, a large portion of the Indian workforce are either unskilled or semi-skilled; road-building projects cater to that demographic.
The Indian government plans to raise money for the roads through debt structuring from the financial markets, highway toll collections and a federal road fund, among other things.