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Our Bureau

New Delhi, Feb 16

National Highways Authority of India (NHAI) is budgeted to mobilise Rs 5,000 crore through loans and bonds in 2009-10.

For the current fiscal, the fund mobilisation programme of NHAI through bonds has been scaled down by 10 per cent to Rs 3,700 crore in the revised estimates from the budgeted amount of Rs 4,100 crore.

In the current fiscal, till date, it has raised about Rs 1,300-1,400 crore through its bond issue, a top NHAI official said.

In 2009-10, the extent of funds to be raised through bonds is not yet finalised as NHAI is also trying to get some loans from multilateral agencies such as ADB, the official said.

The total plan outlay for 2009-10 for the Department of Road Transport and Highways and the NHAI has been revised upwards to Rs 22,000 crore from Rs 19,321 crore (2008-09 revised estimates).

The revised estimates for 2008-09 are marginally higher than the budgeted Rs 1,221.64 crore.

The budgetary support for the highways sector is at Rs 17,000 crore for 2009-10, up almost nine per cent against Rs 15,621.64 crore in 2008-09 (revised estimates).

Out of this, Rs 8,829.85 crore, which is almost 60 per cent for the highways sector in 2009-10, will accrue from proceeds of the Central Road Fund (CRF).

The CRF is a non-lapsable, dedicated fund created through proceeds from the cess levied on sale of diesel and petrol in the country.

The CRF is earmarked for use by the NHAI, state roads, rural roads and road over bridges of the Railway Ministry.

In the current fiscal, Rs 9,329.85 crore – 59.7 per cent of the budgetary support – is expected to be financed by the CRF proceeds, according to revised estimates.

More Stories on : Corporate Bonds | Roadways

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