Toll collection through FASTag network increased by 3.02 percent to Rs 4218.89 crore during April 2022 as compared to March 2022. The growth is despite the decline from 270.41 million in March 2022 to 265.98 million in April 2022.
According to analysts, the increase in collection is due to increase in toll rates with effect from April 1, 2022. Toll rates are linked to the Wholesale Price Index (WPI) and revised regularly.
Compared to April 2021, the number of FASTag transactions grew by 61.87 per cent in the month under review, while collections grew by 51.93 per cent.
“The collection showed a significant increase in toll rates in the range of 8.4 per cent (for projects in which formula based revision is linked to December WPI) and 13 per cent (for projects linked to March WPI) in April 2022. Effective April 1, 2022,” Rajeshwar Burla, assistant vice president, associate head-corporate ratings at ICRA, told ET.
number of transactions
Rs 2776.90 crore
Rs 4,095.30 crore
Rs 4,218.89 crore
This was a sharp increase over the earlier revisions which were in the range of 5-6 per cent.
“The lower growth (8.4 per cent) is for road projects that were allocated before 2008. These comprise 30 to 35 per cent of all highway projects in the country,” he said.
Toll collection through FASTag increased to Rs 38,084 crore in the financial year 2022. The Center had decided that all lanes in toll plazas on national highways would be declared as FASTag lanes of fee plazas from mid-February last year.
The National Payments Corporation of India (NPCI) has developed the National Electronic Toll Collection (NETC) program to meet the electronic tolling requirements of the country. This has enabled the customer to use his FASTag as a payment mode at any toll plaza, irrespective of who has taken over the toll plaza.
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