The capital outlay for MoRTH has expanded sharply, rising more than fourfold from Rs. 0.7 trillion in FY2019 to Rs. 2.94 trillion in FY2027 BE. 

Nevertheless, the allocations have moderated over the past five years, with a CAGR growth of 8%, resulting in lower awarding and execution of national highways. This has resulted in heightened competition and shrinking order book position for road focused entities.

Source: ICRA Research;