Railways, NHAI capex may be funded solely by Budget in FY25 too

To maintain transparency and sustainability, the Centre will likely continue to meet the massive capital expenditure requirements of the two largest state-run transport infrastructure builders –the National Highways Authority of India (NHAI) and the Indian Railways — fully for the next financial year as well, sources said.

That would mean that these two entities would not borrow from the market for funds — NHAI for the third year in a row and the railways for the second year in a row. The Centre’s borrowing plan for FY24 includes the entire market funding requirement of the railways and NHAI.