The move follows the government's move to authorise NHAI to monetise the public funded highway projects in August.
The government is focussing on accelerating road construction and has taken a number of steps to double the pace at which highways are built in the country.
Raghav Chandra says NHAI has the requisite funds for the arbitration norms and the government has shown its full support in this account.
As many as 21 Cabinet decisions, he added, were taken to streamline policy issues, besides steps like mandatory 80 percent land acquisition before award of projects.
State Bank of India, Punjab National Bank, IDFC Bank and the digital wallet PayTM will also start issuing the tags, which are required for electronic toll collection, National Highways Authority (NHAI) chairman Raghav Chandra said.
The government has reduced stressed assets in the national highway projects to a fourth in the last two years and is hoping to remove them completely by this year-end, according to a Yes Bank report titled 'Redefining India's Infrastructure'.
The Road Transport and Highways Ministry has set an ambitious target of building 15,000 km of roads and award projects for another 25,000 km in the current financial year, about two-and-a-half times higher than last year's.
On the problems plaguing PPP projects, he said there had been uncertainties in the PPP projects in the past. Also, there had been "very aggressive" bidding in the period from 2010 to 2012.
Housing finance major HDFC has become the first Indian company to list masala bonds -- denominated in Indian rupees -- on the London Stock Exchange and raised Rs 3,000 crore.
NHAI has seen bidding complete for 50 projects, awarded 11 and has invited 15 bids this financial year, says NHAI Chairman Raghav Chandra, adding, NHAI has a construction target of more than 10,000 km of roads for FY17.
The National Highways Authority of India (NHAI) may award 97 projects covering 6,631 km and worth Rs 1 lakh crore during the current financial year, its chairman Raghav Chandra said on Thursday.
The three-day expo conducted in the capital received an overwhelming response and was concluded with Smart Cities India 2016 Awards. 2nd ...
Supporting the Prime Minister’s mission of Smart Cities India, world leaders from numerous industries continued their discussion on the pillars ...
Supporting the Prime Minister’s mission of Smart Cities India, world leaders from numerous industries continued their discussion on the pillars ...
Developing citizen friendly and economically viable cities is an urban initiative by the Government of India. Cities are engines of economic ...
"A proposal worth USD 2-3 billion has been sent to the Highways Ministry and is getting approval," National Highways Authority of India (NHAI) Chairman Raghav Chandra said at an event on road safety here.
RBI has extended its flexible refinancing and repayment option for long-term infrastructure projects to existing ones where the total exposure of lenders is more than Rs 500 crore.
Raghav Chandra said NHAI has already started work on preparing a detailed report on 7,000 km of road projects.
New enterprises today applauded Prime Minister Narendra Modi's Startup India action plan, saying it will help them gain foothold and encourage more entrepreneurs to start businesses.
The National Highways Authority of India will start the sale of tax-free bonds on Thursday, December 17 with a plan to raise Rs 10,000 crore. The issue closes on December 31.
"To ensure proper implementation of highways construction programmes as well as tree plantation drive, we have decided to deploy satellites and drones," Road Transport and Highways Minister Nitin Gadkari said.
The income of seven crore small scale farmers in the country can be increased by Rs 56,000 crore over the next 5 years by introducing simple mobile phone based services, says a report.
The National Highway Authority of India (NHAI) is shifting gears. It is cutting its losses in areas where its work is being impeded by poor policy support, while pushing the envelope in areas like technology up gradation and user-friendliness, reports CNBC-TV18’s Amrita Panja and Priyanka Ghosh.