Centre crafting 5-year plan to clear NHAI debt

19 Apr 2024 CW Team

The government is considering either reducing or eliminating a significant portion of the Rs 3.4 trillion debt owed by the National Highway Authority of India (NHAI) within a five-year timeframe. They mentioned that this initiative aims to enable the agency to allocate its resources towards enhancing highways. One of the sources, who preferred not to be named, stated that the plan to retire the debt is part of the road and highways ministry's 100-day agenda. This plan involves reducing high-interest long-term debt and lowering interest payments.

The central government has expressed interest in repaying a portion of the NHAI's debt while also focusing on reducing the debt servicing obligations of the highway developer, which serves as the primary agency for surface infrastructure development in the nation. Additionally, the government is engaged in discussions with the NHAI?s long-term bondholders regarding prepayment. The second individual, also speaking on the condition of anonymity, noted that the interest payments of the roadmaker are consuming a significant portion of the government?s annual budget allocations.

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