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The Transport Ministry has said in an estimate that in the financial year 2028, the cost of repaying the loan of National Highway Authority of India (NHAI) will increase by Rs 50 thousand crore. The Ministry also shared it with the Parliamentary Standing Committee. According to the government’s estimate, the total amount of debt repayment in the next five years will reach 20.5% by including outgoing interest and bond redemption. There was an increase in the debt of NHAI between 2017-18 and 2021-22. The government had banned more loan contracts in 2022-23.
According to the Ministry of Transport, in the financial year 2028, the loan amount of NHAI will increase from Rs 33,261 crore to Rs 53,239 crore. Recently, the NITI Aayog has invited a consultant for the bid for the evaluation study of the road project and for support in the functioning of NHAI.
NHAI’s debt last year was 3.48 trillion
The total debt of NHI in March 2022 was Rs 3.48 trillion, while in 2014 this debt was Rs 23,797 crore. The bulk of this debt was contracted between 3.27 trillion 2017-18 and 2021-22. This money was raised through bonds in 112 installments, the last of which will mature in 2050. Apart from the debt, NHI also has contingent liabilities, most of which are disputed with contractors and developers. NHAI has a contingent liability of Rs 71,765 crore as on March 31, 2020.
Out of Rs 1.62 trillion to be provided to NHI in FY 2028, Rs 20,807 crore will come from PBFF, Rs 10,000 crore from asset monetization, Rs 1,400 crore from CRIF. According to the official, the target is to take the share of BOT to 10 percent in the construction of the highway. Between 2007 and 2014, only BOT-toll was used to build the highway, but after that it was closed. No project was awarded on BOT model in 2018-19 and 2019-20.
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