Developers and lenders to languishing national highway projects, for which the government has announced financial assistance, may not accept the proposal on the claim of the National Highway Authority (NHAI) on toll receivables, says a report.
As the roads and highways sector grapples with a massive problem of funds going bad, the role of banks have come under scrutiny for "happily over-financing" a large number of projects without necessary due diligence and thus creating a 'scam-like' situation.
"We will soon build ten express highways on the pattern of Mumbai-Pune Express Highway. These include Nagpur-Mumbai, Bangalore-Chennai, Baroda-Mumbai, Katra-Amritsar and Ludhiana-Delhi," Road Transport and Highways Minister Gadkari told PTI.
Finance Minister Arun Jaitley Wednesday said the proposal to allow railways and highways to issue tax-free bonds has been cleared, and the government is committed to pushing the land acquisition bill to promote growth and generate jobs.
Delays in acquisition of land for construction of highways has hit projects even as government has acquired over 31,000 hectares for building roads in the last three years, Parliament was informed Thursday.
Government on Monday sought to allay apprehensions on the Land Acquisition ordinance saying even farmers whose land was acquired for critical projects like atomic energy, petroleum and highways will also get compensation.
Unveiling plans for Rs 10 lakh crore investment in highways and shipping sectors by 2019, Union Minister Nitin Gadkari on Sunday said the face of India's basic infrastructure will be changed in five years.
The Supreme Court Monday asked all the stake-holders to sit and decided on a "reasonable policy" on the location of liquor shops along the national and the state highways as it said that it did not favour people drinking travelling long distances.