New Delhi: NHAI has prepaid loans of Rs 56,000 crore during the current financial year and is looking to further reduce its debt burden by March. About Rs 40,000 crore has come from budgetary allocations as overall investment is lower this year due to less awarding of contracts and approval of fewer new projects, and less land acquisition.
NHAI’s debt was around Rs 3.3 lakh crore at the beginning of April and has now come down to around Rs 2.8 lakh crore. Loans from the National Small Savings Fund and some commercial banks, which charge high interest rates, have been repaid in advance, an official said, adding that the interest cost of the prepayment is about Rs 1,200 crore. It will help to save.
“The loan has been prepaid to the National Small Savings Fund (NSSF) and some commercial banks, which charge higher interest rates. About Rs 15,700 crore has been prepaid from the InvIT monetization proceeds,” a said the official.
For the current financial year, the government has set a target of raising around Rs 39,000 crore from monetization of completed projects and the amount collected through this route will be used to repay more loans.
Earlier, total debt had touched a maximum of Rs 3.5 lakh crore in 2021-22 as the highways authority continued to borrow heavily for six consecutive years for road development. In view of the high debt burden, the government has stopped NHAI from taking fresh loans and the overall budget allocation has been substantially increased.
NHAI’s assessment shows that its payment obligations will reach Rs 62,000 crore in 2027-28, while its toll revenue will rise to Rs 69,000 crore, leaving it with a slight surplus. will
It is also banking on a massive increase in revenue from route facilities, complexes along the NH as well as accommodation, fuel stations, food courts and other facilities designed for the comfort and refreshment of passengers. Which is likely to grow to around Rs 1,400 crore. 2027-28.
The projections made by NHAI are intended to counter this perception and suggest that it has not taken on liabilities beyond its capacity to repay.