The Minister said under the NHAI's INVIT 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.
On 29 April, the daily toll collection through the FASTag system achieved a historic milestone, reaching an all-time high collection of Rs 193.15 crore, with 1.16 crore transactions recorded in a single day.
Himachal has become the first State in the country to set up first-ever NETC FASTag Barrier to collect Green Tax.
In contrast, ports cargo traffic, diesel consumption and rail freight displayed a decline in MoM terms in July 2021.
At present, all fee plazas on National Highways are fully equipped with FASTag system.
This comes when the country’ petrol and diesel consumption is expected to grow by 14% and 10% respectively in FY22, according to rating agency ICRA.
Mr Gadkari, speaking in the Lower House during Question Hour, said 93 per cent of vehicles pay toll using FASTag, but the remaining 7 per cent have still not adopted it despite paying a double toll. “I want to assure the House that within one year all physical toll booths in the country will be removed. It means that toll collection will happen via GPS.
He also said that 93 per cent of the vehicles pay toll using FASTag but the remaining 7 per cent have still not taken it despite paying a double toll.
Therefore, as per NH Fee Rules 2008, any vehicle not fitted with FASTag or vehicle without valid, functional FASTagentering into the FASTag lane of the fee plaza shall pay a fee equivalent to two times the fee applicable to that category.
Issuer banks were unilaterally mandating some threshold amount value for the FASTag account/wallet, in addition to the security deposit amount.
