NHAI to issue taxable bonds for financing Bharatmala Pariyojana

The National Highways Authority of India (NHAI) is planning to issue taxable bonds to raise funds worth Rs 30 billion for financing road projects under the Bharatmala Pariyojana. The proposal for the same has been submitted to the Ministry of Finance for approval. The first phase of Bharatmala will be carried out at an estimated cost of Rs 5,500 billion for building 24,800 km of highway network by March 2022. These projects will be implemented by the Ministry of Road Transport and Highways, NHAI, National Highways and Infrastructure Development Corporation Limited and the public works departments of various states.