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In a monumental stride towards bolstering India’s infrastructure, the National Highways Authority of India (NHAI) has achieved a groundbreaking milestone by investing a record ₹2.07 lakh crore in the construction of national highways during the fiscal year 2023-24. This capital expenditure marks the highest ever recorded by NHAI, reflecting a remarkable 20% surge from the preceding fiscal year’s expenditure of ₹1.73 lakh crore and ₹1.72 lakh crore in 2021-22.
According to a government official, NHAI’s relentless efforts have yielded substantial results, with the construction of highways in the just concluded financial year surpassing previous records. The total length of highways constructed stood at an impressive 6,644 km, representing a significant growth of 20% compared to the 5,544 km constructed in the preceding financial year. This remarkable achievement underscores NHAI’s unwavering commitment to accelerating infrastructure development and enhancing connectivity across the country.
Furthermore, NHAI’s monetization receipts during FY 2023-24 have also witnessed a remarkable upswing, reaching a staggering ₹40,314 crore, the highest in any financial year. This substantial increase of 70% from the previous fiscal year’s receipts of ₹23,650.77 crore underscores NHAI’s successful implementation of innovative financing mechanisms. Notably, NHAI has leveraged toll-operate-transfer (TOT) bundles, Infrastructure Investment Trust (InvIT), and toll securitization to bolster its monetization efforts.
Under the InvIT framework, NHAI successfully monetized 10 stretches spanning approximately 890 km across Assam, Karnataka, Madhya Pradesh, Uttar Pradesh, and West Bengal in the third round. This achievement builds upon the success of earlier rounds, with NHAI having monetized approximately 635 km worth ₹10,200 crore through two previous rounds of InvIT.
Furthermore, NHAI’s successful awarding of TOT Bundles 11, 12, 13, and 14 for ₹15,968 crore during FY 2023-24 surpasses its monetization target of ₹10,000 crore for the fiscal year. Additionally, NHAI’s monetization of the Delhi-Mumbai Expressway through project-based securitization, which garnered ₹4,600 crore, further highlights its robust asset monetization strategy.
Overall, NHAI’s extraordinary achievements underscore its pivotal role in driving infrastructure development and fostering economic growth. With its relentless pursuit of excellence, NHAI continues to play a crucial role in transforming India’s transportation landscape, ushering in a new era of connectivity, efficiency, and progress.
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