The Election Commission has allowed NHAI to calculate new toll rates that normally kick in from April 1, but said the new user fees should be applicable only after the Lok Sabha elections.
All projects awarded by the NHAI have been clubbed into two categories called Bundle 13 and Bundle 14 and were expected to be awarded in September 2023.
The Ministry of Road Transport and Highways was earlier planning to spend over 90% of its Rs 2.59 lakh cr capex allocation for financial year 2023-24 by December 2023. However, heavy rains, delays in land allocation and elections in five states have led to a dramatic slowdown in project-awarding.
The road-building target has been missed in the past two years and the same is expected this year as the general elections approach
RITES Q1 earnings: Operating revenue, excluding other income, stood at Rs 503.7 crore in the quarter under review, down 13 percent from Rs 578.33 crore in the year-ago quarter.