Traffic violators will soon be caught with AI: Nitin Gadkari
India witnesses around 5 lakh accidents each year, resulting in numerous fatalities.
India witnesses around 5 lakh accidents each year, resulting in numerous fatalities.
Construction-related sectors, such as steel and cement producers, will continue to benefit, says Moody's.
The pace of execution in this fiscal will be supported by a healthy pipeline of projects, increased capital outlay by the government and focus on projects completion by the Ministry of Highways.
The decision stems from recent reports received by NHAI of multiple FASTags being issued for a particular vehicle and FASTags being issued without KYC, which violates the mandate by the RBI.
The agency points out that in the absence of Cabinet approval of revised project cost, highway contract awards is suffering.
ICRA projects the toll collection growth to be 6%-9% in FY2024, primarily supported by a 4%-5% growth in traffic.
In the next fiscal, the traffic growth is expected to taper to 4% to 6% but will remain higher than the four-year compound annual growth rate (CAGR) of 2% to 3% seen through fiscal 2022.
The steep budget allocation for FY24 capex is intended to keep the GDP growth ticking. But has capex succeeded in creating the multiplier effect in the economy?
The capital allocation to the highway ministry for 2023-24 stands at ₹2,58,605 crore.
Capital expenditure in FY23 is up by 80% as compared to the previous fiscal.