A Parliamentary penal has asked the National Highways Authority of India (NHAI), to prioritise delayed road projects to prevent further cost escalation.
The Department-related Parliamentary Standing Committee on Transport, Tourism and Culture, in its report tabled in Parliament on Tuesday said that "the NHAI may prioritise the completion of its delayed road projects to prevent further cost escalation in such projects."
The Committee recommends that the NHAI explore restructuring of its existing debt and prepare proposals to raise long-term funds through the upcoming Development Financial Institution announced in the Budget Speech (2021-22).
Expressing its displeasure over a whopping Rs 97,115 crore debt servicing liability on NHAI, the committee pointed out debt servicing liability of Rs 38,997 crore for 2021-22, Rs 28,800 crore for 2022-23 and Rs 29,318 crore for 2023-24.
The committee said that the debt servicing liability of NHAI for the next three Financial Years is higher than the estimates that the Ministry had provided to the Committee during its examination of Demands for Grants (2020-21) of the Ministry.
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