Toll tax update – Banks will collect toll tax on highways now – check which expressway it will include and when!

Toll tax update – Banks will collect toll tax on highways now – check which expressway it will include and when!

Banks will now collect the toll taxes from you if you are traveling on highways or expressways. The National Highways Authority of India (NHAI) has teamed up with banks to collect toll taxes for the first time. With this action, India’s tolling system will undergo a significant change. In light of this, the NHAI has extended an invitation to banks to submit bids for this special position on the nation’s first multi-lane free flow (MLFF) toll collection system.

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This new MLFF system will not have physical toll booths like traditional toll plazas do. Instead, sensors and equipment mounted on overhead gantries will scan vehicle information as it passes by and transmit it to an electronic toll system for automatic fee deduction.

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According to reports, the newly opened Dwarka Expressway would serve as the starting point for the new toll tax collection mechanism. The toll collection authority (MLFF) has asked banks to submit bids. Tolling rights will be granted to banks that offer the largest revenue share. This privilege will last for three years. After obtaining the contract, the system must be put into place within three months.

As per NHAI, in order to ease traffic and pollution and make travel easier, it is thinking of adding more new greenfield motorways under the MLFF. The NHAI added that there would be no revenue loss and that greater transparency in toll collecting would result from the banks being supervised by the RBI.

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