In a detailed analysis of the Bharatmala project Phase 1, it said that up to 31 March 2023, while only 75.62 per cent of the CCEA-approved length has been awarded, the project has already sanctioned 158.24 per cent of CCEA-approved financial outlay.
Recent developments should serve to ease the states’ liquidity situation, encourage a quicker pick up in their capex spending, and perhaps create the fiscal space for states to spread their capital spending evenly throughout the year
This spending sleight of hand and the sharp rap that the government auditors delivered to the railway czars may never have become public if it weren’t for the triple-train accident last week in Balasore