Apply the Cash-Time-Risk concepts to the Incremental Cashflow Project Lifecycle model to describe the road investment 'crisis' facing India.

FY12 Order flows in FY19 are likely to fall short of expectations, after a strong FY18. Awarded km (NHAI+MORTH) 9,794 FY13 1,916 FY14 3,169 FY15 7,980 FY16 10,404 FY17 16,270 FY18 17,055 9M FY19 2,105 National Highways Authority of India Ministry of road transport and highways Overall road construction target has been scaled down by the government to about 10,000km for FY19, a drop of nearly 40% from earlier estimates. Constructed km (NHAI+MORTH) 9,829 8,230 6,029 5,759 4,260 4,410 5,013 5,732 FY12 FY12 FY14 FY16 FY18 FY13 FY15 FY17 9M FY19 Source: Motilal Oswal Financial Services FY12 Order flows in FY19 are likely to fall short of expectations, after a strong FY18. Awarded km (NHAI+MORTH) 9,794 FY13 1,916 FY14 3,169 FY15 7,980 FY16 10,404 FY17 16,270 FY18 17,055 9M FY19 2,105 National Highways Authority of India Ministry of road transport and highways Overall road construction target has been scaled down by the government to about 10,000km for FY19, a drop of nearly 40% from earlier estimates. Constructed km (NHAI+MORTH) 9,829 8,230 6,029 5,759 4,260 4,410 5,013 5,732 FY12 FY12 FY14 FY16 FY18 FY13 FY15 FY17 9M FY19 Source: Motilal Oswal Financial Services