NHAI to keep off bond market in 2022-23

Acknowledging NHAI’s massive debt burden of Rs 3.38 trillion, the finance ministry has provided it with no additional borrowing capacity in financial year 2023 budget. Rather than financing the enormous plan of road construction, the government has chosen to assume responsibility for it. They will need to prepare for the absence of NHAI in the following fiscal year. This action creates a comparable gap for the centre to finance its own borrowing. This is also a critical financial manoeuvre that the government must undertake in order to complete the backlog of road construction in the country and add 25,000 km of national highways in the financial year 2023. Road construction has emerged as one of the most significant components of physical infrastructure creation for the government in order to stimulate economic growth. Thus, while NHAI would not borrow any further in financial year 2023, it will receive a Rs 6.89 billion support from the finance ministry.

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