L&T, Dilip Buildcon, Ashok Buildcon: Infra stocks in focus on PMGSY-III extension; key details

In its press release, the PIB said that the Union Cabinet, chaired by Prime Minister Shri Narendra Modi, on Saturday, April 18, approved the continuation of Pradhan Mantri Gram Sadak Yojana-III (PMGSY-III) beyond March 2025, up to March 2028.

It involves consolidation of through routes and major rural links connecting habitations to Gramin Agricultural Markets (GRAMs), higher secondary schools, and hospitals.

The revised outlay of the scheme will be ₹83,977 crore.

• Extension of timeline till March 2028 for completion of roads and bridges in plain areas and roads in hilly areas.
• Extension of timeline till March 2029 for completion of bridges in hilly areas.
• Works sanctioned before 31.03.2025 but un-awarded till now may be taken up for tender/award.
• Long Span Bridges (LSBs) (161 Nos. with estimated cost of ₹961 crore) pending for sanction, but lying on the alignment of already sanctioned roads may be sanctioned and tendered/awarded.
• Revision of outlay to ₹83,977 crore from original outlay of ₹80,250 crore.

The press release added that the continued implementation will also generate substantial employment opportunities, both directly through construction activities and indirectly by promoting rural enterprises and services.

Overall, the extension will contribute to inclusive and sustainable development by bridging the rural-urban divide and advancing the vision of Viksit Bharat 2047.

What is Pradhan Mantri Gram Sadak Yojana (PMGSY)?

Pradhan Mantri Gram Sadak Yojana (PMGSY) is a major rural development programme launched by the Government of India in December 2000.

PMGSY is a centrally sponsored scheme aimed at providing all-weather road connectivity to unconnected rural areas (villages).

• Connect remote and rural villages with proper roads

• Improve access to education, healthcare, markets, and jobs

• Promote economic development in rural areas

• Reduce the isolation of villages