NHAI is not facing a financial crisis and has a plan to service its debt through improved toll revenue and asset monetization, says Union Minister Nitin Gadkari.
Photograph: Rupak De Chowdhuri/Reuters
New Delhi, Jul 25 (PTI) The National Highway Authority of India (NHAI) is not facing any financial crises and has drawn up a plan to service its debt through improved inflows of toll revenue and asset monetisation, Parliament was informed on Thursday.
In a written reply to the Lok Sabha, Union Road Transport and Highways Minister Nitin Gadkari said, "NHAI is not facing any financial crises which is evident from the fact that NHAI has pre-paid bank loan to the tune of Rs 15,700 crore through InvIT monetisation proceeds - Rs 6,350 crore in the last financial year and Rs 9,350 crore in July 2024," he added.
NHAI's debt stands at Rs 3.35 lakh crore.
Gadkari said the government has not mandated NHAI to raise funds since FY2023-24.
"Thus, the debt reduction has started," he said.
The minister also said that NHAI has drawn up a plan to service its debt through improved inflows of toll revenue and asset monetisation.
"The amount raised through the InvIT mode is used exclusively for debt repayment," Gadkari said.
Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time.
The government enhanced the mandate of NHAI by assigning the implementation of Bharatmala Pariyojana in 2017.
To implement the scheme, NHAI raised borrowing as per IEBR (Internal and Extra Budgetary Resources) approved by the government in the Union Budget.
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