FASTag collections reach Rs 4,000 crore in March, FY22 revenue Rs 38,000 crore
- In March, toll collection from FASTag stood at RS 4,095 crore
- FASTag revenue for the full fiscal year stood at Rs 38,084 crore
- About one-third of the toll revenue came in the last quarter of the fiscal year
With the growth in mobility and increasing FASTag adoption, the toll collection through the digital toll collection system has crossed the Rs 4,000 mark for the first time. In March, toll collection from FASTag stood at RS 4,095 crore, the highest since the introduction of the system in 2016.
With March records announced, highway toll collections through FASTag for the full fiscal year stood at Rs 38,084 crore, which is 68% higher than the previous year. The collection for March was nearly 33% higher than the corresponding month last year.
About one-third of the toll revenue came in the last quarter of the fiscal year. Sequentially, toll collections through the platform surged almost 13% over February. More than 27 crores FASTag transactions were recorded in the month with the system hitting almost 5 crore tag issuances, according to the data by the National Payments Corporation of India (NPCI).
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In February 2021, the central government declared all lanes of fee plazas on national highways as FASTag lanes. Nitin Gadkari, Union Minister for road transport and highways, earlier said that FASTag adoption in passenger vehicles had reached 97% and the ministry is working to identify causes for non-adoption among the remaining highway commuters.
Giridhar Aramane, the ministry's secretary, has also said the department is targeting a toll revenue collection of over Rs 35,000 crore in 2022-23, with a medium-term goal of half a trillion rupees by 2025.
Recently, the National Highways Authority of India (NHAI) also increased the toll rate for 2022-23. Toll rates are associated with the Wholesale Price Index (WPI), which has remained at higher levels. The key economic indicator has seen double-digit percentage growth since April 2021. Wholesale inflation in February stood at 13.11%.