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The month-on-month toll collection on National Highways through FASTag dipped by 10 percent in April, says report.
The resurgence of COVID-19 cases has derailed India's economic recovery with several sectors reeling under financial losses due to COVID-induced restrictions. As several states have imposed curfews in a bid to break the chain of infections, vehicular movements have dropped considerably in the country.
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The month-on-month toll collection on National Highways through FASTag dipped by 10 percent in April, according to Yes Securities, a Financial Express report mentioned.
The report by the broking and investment firm Yes Securities pointed out that toll collection through FASTag on National Highways in India fell to Rs 2,780 crore in April from Rs 3,100 crore in March as a result of curbs on mobility to contain the spread of coronavirus.
Toll collection through FASTag was made mandatory on February 15 by the Central government. The Yes Securities report underlined that about 95 percent of the total toll collection now happens through FASTag mode in India.
According to the report, toll collections are expected to witness a rise from July as the COVID-19 impact settles in the country and mobility improves.
The findings second the conclusions reached by rating agency Crisil. In its research report ‘Wall of Worry’, Crisil stated that retail mobility has fallen 8.2 percentage points on average in the week ending May 2 as against 11.4 percentage points decline in the week ending April 25 due to COVID-19 and its impact on the economic activity in India.
Last year too, the toll collections had plummeted dramatically due to nationwide hard lockdown. Following a four-month lull, traffic volume began to increase on roads from July 2020.
The toll collections reached pre-COVID times high in September last year. According to a Crisil report, more than 110 million vehicles hit the highways in September 2020, taking the toll collections to a whopping ₹1,941 crore. Prior to this, the country had recorded more than 100 million vehicles on national highways in a month in February 2020, when the pandemic had not struck India.
First Published: May 8, 2021 1:13 PM IST