Highways Ministry releases Rs 10,000 cr under Atmanirbhar Bharat scheme

A sum of Rs 10,339 crore has been released by the Ministry of Road Transport and Highways during the COVID-19 period under the simplified payment process as envisaged in the Atmanirbhar Bharat scheme.

According to an official release, another sum of Rs 2475 crore is being processed and is likely to be released soon.

The Government has taken various steps to ensure ease of doing business and also to boost stakeholder confidence in building quality road infrastructure in the country, the release said.

Ministry of Road Transport and Highways has simplified the payment process under Atmanirbhar Bharat scheme and contractors' payments are being made every month instead of milestone achievement basis, it stated.

The Ministry has extended a number of relief packages for its contractors and concessionaires owing to COVID-19 scenario.

"Retention money (which is a part of the performance security till construction period) is being released in proportion to the work already executed in accordance with the contract specification, and retention money for up to six months' period is not deducted from the bills raised by the contractor," the release said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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