NHAI will raise Rs 33,000 crore by March 2013 for parched road...

National Highways Authority of India (NHAI) will raise Rs 33,000 crore by March 2013 through bonds, external commercial borrowings, insurance funds and multi-lateral institutions like World Bank to bridge the funding gap in the road sector. Till now, NHAI has to depend on central road cess and 54 EC tax exemption bonds to raise money for funding the government s portion in the highways project. NHAI, which is responsible for fulfilling the government s ambitious target of building 20 km of roads a day at the earliest, will raise up to Rs 7,000 crore in 2010-11, while a borrowing of Rs 11,000 ...

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