National Highway Authority of India (NHAI) has been in the news
recently with both the Prime Minister’s Office and the CAG flagging some concerns.
The financial stress that the NHAI
is under, forced the PMO to suggest remedial measures. It asked NHAI
to improve its operational performance and monetise its road assets. The CAG also raised red flags about the costs and sought a cost audit. CAG also wanted to curtail NHAI’s debt-raising measures as it was also debt for the government.
What are the issues raised by PMO and the CAG? Why has the NHAI’s debt risen so much? Where do things stand today?