Parliament panel asks NHAI to explore debt restructuring

Expressing its displeasure over a Rs 971.15 billion debt servicing liability on NHAI, a parliamentary panel has asked the authority to explore restructuring of its existing debt and look for options to raise long-term funds through the upcoming development finance institution announced in the Union Budget 2021-22. The Parliamentary Standing Committee on Transport, Tourism and Culture, in its recent report tabled in Parliament, has also asked NHAI to prioritise its delayed road projects in order to avoid further cost escalation in such projects. Currently, NHAI has a debt servicing liability of Rs 389.97 billion for 2021-22, Rs 288 billion for 2022-23, and Rs 293.18 billion for 2023-24.