New Delhi, Jul 25 (IANS): It would cost around Rs seven lakh crore for development of national highways and other roads under various government schemes and proposed Phase-I of Bharatmala programme upto 2021-22, Parliament was told on Monday.

"The estimated fund requirement for development of national highways/roads under various schemes and proposed Phase-I of Bharatmala Pariyojana is about Rs 6,92,324 crore upto Financial Year 2021-22," Minister of State for Road Transport and Highways Mansukh Lal Mandaviya told the Rajya Sabha in a written reply.

He said the money would come from Gross Budgetary Support including national highway share of Central Road Fund cess, toll remittance, expected monetisation of national highways through Toll-Operate-Transfer route, market borrowings by National Highways Authority of India (NHAI) and private sector investment.

"The estimated share of private sector investment and expected monetization through Toll-Operate-Transfer route during this period are about Rs 1,06,000 crore and about Rs 34,000 crore respectively; which together form about 20.22 percent of total estimated fund requirement of Rs 6,92,324 crore," he said.