The allotment of parking sites would be for a period of three years which is further extendable for two years on mutual agreement, as per a communiqué issued by the civic body on Tuesday.
The total length of the National Highways in the country increased by about 59 per cent in the last nine years.
As a result of this expansion, India now has the second largest road network after the US, Union Road Transport and Highways Minister Nitin Gadkari said today.
Addressing a Press Conference in New Delhi, he said: “The total length of National Highways was 91,287 km in 2013-14, which increased to 1,45,240 km in 2022-23, which is a rise of more than 59 per cent during this period.”
Interacting with the media on the achievements of his ministry during the last years of the Modi government, he said four-lane National Highways rose about two times. In 2013-14, the length of the 4-lane NH was 18,371 km which has increased to 44,654 km in the last nine years.
Gadkari said with the introduction of FASTag, there is a significant jump in toll collection. The minister further informed that the revenues from tolls rose to Rs 41,342 crore in 2022-23 from Rs 4,770 crore in 2013-14. The government aims to increase the toll revenue to Rs 1,30,000 crore by 2030, he added.
Gadkari said the waiting time at toll plazas has also been reduced. “In 2014, the waiting time at the toll plazas was 734 seconds, whereas in 2023 this was reduced to 47 seconds. We are hopeful that we will bring it down to 30 second soon,” he said.
The minister spoke about the transformative impact of FASTag on travel experiences in India, saying it has revolutionised the concept of toll payments, eliminating the need for cash transactions. This breakthrough has saved about Rs 70,000 crore in wasted fuel expenses caused by waiting at the toll plazas, according to a research.
Gadkari said special emphasis is being laid on the expansion of the road highway network in the NorthEast region, saying projects worth more than Rs 2 lakh crore are being carried out in the region. He also said 670 roadside facilities are being developed with a view to providing a pleasant experience along the NHs.
The minister said under the NHAI’s INVIT (Infrastructure Investment Trust) model, a bond issue was launched which garnered a tremendous response. Within the first day of its availability on the Mumbai Stock Exchange, the bond witnessed seven times oversubscription.
He said the NHAI achieved seven world records, showcasing their commitment to technological advancements and their ambition to position India as the second-largest road network in the world, after the US.