The National Highways Authority of India's (NHAI) big plan for monetising road projects to partially fund the government's ambitious Rs 6.9 lakh crore Bharatmala Project has hit a hurdle. They also want the government to ensure them that a parallel road is not built along the toll road as it could leak toll earnings. Local biggies have demanded state support to raise funds. They are at a disadvantage in comparison with foreign funds which can raise funds at a cheaper rate. The foreign funds can borrow at 8%, adjust it for the rupee and get 11% yield, eventually getting a 300-basis point spread on a long term.

Source: dna February 01, 2018 00:22 UTC