In the fiscal year 2023-24, India saw a significant boost in its toll collection, reaching ₹64,809.86 crore, marking a substantial 35% increase compared to the previous fiscal year. This surge is credited to the rapid expansion of commercial activities and the growing adoption of FASTags among motorists using toll roads.
FASTags, which facilitate cashless transactions at toll plazas, have played a pivotal role in this upward trend. At the outset of the fiscal year, the government had estimated a toll collection of ₹55,000 crore, a figure that was surpassed due to the swift growth and acceptance of FASTags across the country.
Over the past five years, India has witnessed a remarkable 2.6-fold rise in total toll collection, soaring from ₹25,154.76 crore in 2018-19 to ₹64,809.86 crore in 2023-24. Looking ahead, the government projects that total toll collection will exceed ₹70,000 crore in the fiscal year 2024-25 and is anticipated to climb to ₹1,30,000 crore by 2029-30.
In anticipation of the upcoming Lok Sabha elections, the National Highways Authority of India (NHAI) is set to announce new toll rates for the fiscal year 2024-25. However, the Election Commission (EC) has instructed state-owned highway authorities to hold off on implementing these new rates until after the election results are declared. The elections are scheduled to commence on April 19, with subsequent phases on April 26, May 7, May 13, May 20, May 25, and June 1. Vote counting will take place on June 4.
In the fiscal year 2023-24, the Ministry of Road Transport and Highways (MoRTH) constructed 12,349 kilometers of national highways, marking a notable 12.3% increase over the previous year's figure of 10,993 kilometers. However, this falls short of the targeted 13,800 kilometers for the fiscal year 2024.
Despite recording the second and third-highest rates of highway construction in 2022-23 and 2023-24, respectively, MoRTH has yet to complete the construction of the 25,000 kilometers announced by Finance Minister Nirmala Sitharaman as part of the 2022-23 budget.
Government officials are optimistic that the remaining construction of 1,700 kilometers or more will be completed by May. However, MoRTH has missed its construction targets seven times in the past decade, despite investing nearly ₹10 trillion in building 97,000 kilometers of national highways.
The total length of toll roads in India surged from 25,996 kilometers to 45,428 kilometers by November 30, 2023, marking an impressive 75% increase. This growth is reflected in the lengths of toll highways, which stood at 29,666 kilometers in 2019-20, 34,071 kilometers in 2020-21, 38,315 kilometers in 2021-22, and 42,595 kilometers in 2022-23.
According to government data, over 7.98 crore FASTags have been issued as of November 30, 2023. These tags facilitate seamless transactions at national highway fee plazas, with an average daily collection of ₹147.31 crore recorded in the fiscal year 2023-24.