The Maharashtra state has obtained Rs 21,500 crore ($2.5 billion) worth of funding commitments from lenders for a road project near Mumbai. The new road is intended to reduce traffic congestion near Mumbai and improve road quality. Prime Minister Narendra Modi has put a spotlight on infrastructure as a tool to spur growth. The government increased its budget allocation for the agency that oversees roads and highways to 2.78 trillion rupees in fiscal year 2025, more than triple the amount five years prior, according to Crisil Ratings. The Rural Electrification Corporation, National Bank for Financing Infrastructure and Development, and India Infrastructure Finance Company are the largest lenders on the deal, said the people. The project was recently seeking bidders to build the road, which is known as the “Multi-Modal Corridor.” The road construction will start in the next financial year starting April, says the people, who asked not to be identified because the information is private. It is part of an ambitious infrastructure makeover of the world’s densest metropolitan region.