The Ragarajan Panel recommended the guidelines for Highway
sector
The C Rangarajan panel recommended the guidelines
prescribing bailout packages for developers of highway projects and the task of
implementation lie with the National Highway Authority of India (NHAI.
The panel recommended that 75% of the premium amount payable
to the government will be restricted in the first three years of the contract.
Further it recommended that the road developers should
submit the entire premium amount three years before the completion of full
contract.
At present companies pay some amount of premium to the government in
the first year of the project which keeps increasing in the subsequent years.
The panel’s recommendations, if accepted, will lead to huge
reduction in the premium payment in the first years.
As a result, it will provide relief to the developers like
GMR Infrastructure Ltd and GVK Power and Infrastructure Ltd and 23 other road
developers.
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