'The ministry for road transport and highways needs a complete overhaul. We have to set strict time-bound targets to achieve our goal of constructing 7,000 km of road per year,' he said.

In what could be another impetus to the development of roads in the country, the ministry is also mulling setting up a Road Finance Corp this year on the lines of the Power Finance Corp.

The corporation will help increase public investment in road building and make credit available to such projects.

'This expressway authority along with Road Finance Corp are part of this year's target plan that we are going to announce soon,' said Kamal Nath.