FinMin halves NHAIs share of toll collection

The cut is despite the fact that NHAI will be able to collect more than the budgeted target. Even as NHAI is unhappy over a cut in their share of toll income,the road transport ministry feels that the highways authority has failed to use funds.

NHAI has over Rs 8,000 crore unused,parked in various banks. Why would they need more money from the government? said a senior road transport ministry official.

The finance ministry had,in January,raised concern over the surplus. But NHAI had claimed a large part of it would have been used in acquiring land for roads.

If NHAI needs more money the government will release additional sum, said the official.

Meanwhile,the finance ministry also allowed NHAI to raise Rs 10,000 crore through tax-free bonds. This bond allocation to highways authority is part of Rs 50,000 crore issue announced in the Budget. But the money should only be raised if the government department needs it.