The Union government plans to extend its rescue package to all struggling highway projects instead of the previously identified 23 projects.
The Union Cabinet has been urged by the Ministry to allow the National Highways Authority of India (NHAI) the liberty of deciding which projects are under stress and deserve respite from the government.
The country-wide highway developers have written to NHAI and the Prime Minister’s Office last month and urged for the respite. A proposal is aimed at easing the financial flow into the road projects by allowing lenders to recover their debt payment first while NHAI can recover the premium at a later date with interest.
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