Railways, roads and highways sector are to get the largest chunk of investment over the next five years as the government is expected to spend Rs 30 trillion in the transport sector in India, market research firm ICRA said.Taking cues from the BJP manifesto, ICRA said that railways is expected to receive a financial outlay of Rs 10-12 trillion over the next five years while up to Rs 9 trillion is expected to be pumped into the roads and highways sector.“Amongst the key segments, transport infrastructure is expected to see a major jump with an estimated Rs. 25-30 trillion of capital outlay over the next five years. Such an investment will provide tremendous long-term benefits for the Indian economy. The construction companies are likely to be the major beneficiaries and will witness strong order inflows, estimated between Rs. 15-18 trillion on the basis of these infrastructure capex plans,” Shubham Jain, Vice-President and Group Head, Corporate Ratings, ICRA, said in a statement on Thursday.The BJP in its manifesto proposed to construct 12,000 kms of national highways every year till 2024. ICRA said that the target was achievable given the length of highways conducted in 2018-’19 touched 10,000 kms.For the railways, the manifesto has proposed a conversion of all viable rail tracks to broad gauge, electrification of all railway tracks, and completion of the two dedicated freight corridor projects by 2022, ICRA said.The new Government is likely to maintain the continuity on the major programmes like Bharatmala Pariyojana (Highways), Sagarmala (Ports), railway station redevelopment programme, inland waterways development, Namami Gange, Swachh Bharat Mission, UDAN (Airports), AMRUT and Smart Cities (Urban Infra), launched during its last tenure.Meanwhile, Rs 3 trillion are likely to be set apart for urban infrastructure and Sagarmala, the government’s port-led development scheme. ICRA said that the government is expected to spend Rs 2 trillion on development of 100 airports in the country, while Rs 1 trillion is likely to be invested for the development of inland waterways.Jain said that the investment proposal is ambitious nevertheless. “Large increase in capital investments in the infrastructure sector will require significant Government push in the form of policy reforms including providing a conducive environment for public private partnership, and promoting alternate avenues of fund raising like Infrastructure Investment Trusts, NIIF, etc., as well as a major increase in public sector spending which given the fiscal constraints can be achieved by way of asset monetisation or asset recycling," he added.