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Journalism of Courage
In a first,the finance ministry has cut by half the income collected from toll on national highways to be released to the National Highways Authority of India NHAI.
According to revised Budget estimates,NHAI has got Rs 1,777 crore as its share from toll collected on national highways for the current year,which is half of Rs 3,554.03 crore announced in the Budget for the current year.
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.
