Finance Minister Nirmala Sitharaman announced a marginal increase in the allocation to the state-owned National Highways Authority of India (NHAI) to Rs 1.68 lakh crore for the financial year 2024-25, up from the revised allocation of Rs 1.67 lakh crore in the previous year.
The pre-election Budget 2024-25 document also revealed a marginally enhanced outlay of Rs 2.78 lakh crore for the highways sector overall.
In the fiscal year 2023-24, an allocation of Rs 2.70 lakh crore was initially made for the highways sector, which was later revised to Rs 2.76 lakh crore.
The NHAI and the National Highways and Infrastructure Development Corporation Ltd (NHIDCL) play pivotal roles in the construction of national highways and expressways across India, underlining the significance of these allocations in advancing infrastructure development in the country.
FASTag KYC deadline extended
The National Highways Authority of India has granted an extension for completing the Know Your Customer (KYC) process for FASTags. The deadline has been pushed by a month, now set to February 29, 2024.
This move is expected to provide relief to numerous vehicle owners who are in the process of completing their KYCs. Before the extension, January 31st was the last date to complete the KYC for FASTags.