NEW DELHI: The Center will get toll revenue of Rs 1,000 to 1,500 crore every month, much-awaited Delhi-Mumbai Expressway Union minister will be operational in 2023 Nitin Gadkari Said on Sunday and described state-owned NHAI as a “gold mine” for generating income.
Conducting an ambitious campaign to expand the country’s road infrastructure for the last seven years, a confident Gadkari It also said that the National Highways Authority of India (NHAI) will increase the annual toll income by Rs 1.40 lakh crore in the next five years from the current level of Rs 40,000 crore.
Gadkari, who completed a whirlwind tour to assess the progress of the Delhi-Mumbai Expressway passing through four states apart from the national capital, said the national highway infrastructure is a world-class success story.
“After the Delhi-Mumbai Expressway is completed and opened to the public, we will get at least Rs 1,000-1,500 crore as toll revenue every month,” he told PTI in an interview.
The Delhi-Mumbai Expressway is likely to be completed by March 2023 and is being built as part of the first phase.Bharatmala Project‘.
The eight-lane expressway covering Delhi, Haryana, Rajasthan, Madhya Pradesh and Gujarat is expected to reduce the commute time between the national capital and the country’s financial hub from about 24 hours to 12 hours.
Against the backdrop of concerns over NHAI being overburdened by high levels of debt, union road transport And the highways minister informed that the nodal agency has got ‘AAA’ rating and all its road projects are productive.
‘AAA’ is one of the highest credit ratings and indicates a strong financial position.
“NHAI was not in debt trap, and it will never be in debt trap in future. It is a goldmine, and is in a strong position… In the next five years, NHAI’s toll income will increase to 1.40 lakh crores. Rs. 40,000 crore per annum from the existing toll income,” Gadkari said.
In March, the Department-related Parliamentary Standing Committee on Transport, Tourism and Culture had expressed its displeasure over the loan payment obligation of Rs 97,115 crore on NHAI.
Recently the minister gave information Rajya Sabha NHAI’s total borrowings increased to Rs 3,06,704 crore at the end of March this year from Rs 74,742 crore in March 2017.
Gadkari said investment in the infrastructure sector will generate employment and boost the country’s economic growth, adding, “We (NHAI and the ministry) are working on projects worth lakhs of crores.”
When the economy is in a downturn, economics tells us that there is a need to increase investment in infrastructure, he said.
The country’s economy has been adversely affected by the coronavirus pandemic and it is on a gradual recovery path.
Conducting an ambitious campaign to expand the country’s road infrastructure for the last seven years, a confident Gadkari It also said that the National Highways Authority of India (NHAI) will increase the annual toll income by Rs 1.40 lakh crore in the next five years from the current level of Rs 40,000 crore.
Gadkari, who completed a whirlwind tour to assess the progress of the Delhi-Mumbai Expressway passing through four states apart from the national capital, said the national highway infrastructure is a world-class success story.
“After the Delhi-Mumbai Expressway is completed and opened to the public, we will get at least Rs 1,000-1,500 crore as toll revenue every month,” he told PTI in an interview.
The Delhi-Mumbai Expressway is likely to be completed by March 2023 and is being built as part of the first phase.Bharatmala Project‘.
The eight-lane expressway covering Delhi, Haryana, Rajasthan, Madhya Pradesh and Gujarat is expected to reduce the commute time between the national capital and the country’s financial hub from about 24 hours to 12 hours.
Against the backdrop of concerns over NHAI being overburdened by high levels of debt, union road transport And the highways minister informed that the nodal agency has got ‘AAA’ rating and all its road projects are productive.
‘AAA’ is one of the highest credit ratings and indicates a strong financial position.
“NHAI was not in debt trap, and it will never be in debt trap in future. It is a goldmine, and is in a strong position… In the next five years, NHAI’s toll income will increase to 1.40 lakh crores. Rs. 40,000 crore per annum from the existing toll income,” Gadkari said.
In March, the Department-related Parliamentary Standing Committee on Transport, Tourism and Culture had expressed its displeasure over the loan payment obligation of Rs 97,115 crore on NHAI.
Recently the minister gave information Rajya Sabha NHAI’s total borrowings increased to Rs 3,06,704 crore at the end of March this year from Rs 74,742 crore in March 2017.
Gadkari said investment in the infrastructure sector will generate employment and boost the country’s economic growth, adding, “We (NHAI and the ministry) are working on projects worth lakhs of crores.”
When the economy is in a downturn, economics tells us that there is a need to increase investment in infrastructure, he said.
The country’s economy has been adversely affected by the coronavirus pandemic and it is on a gradual recovery path.
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