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In news:

The Union Cabinet on Wednesday gave its approval to National Highways Authority of India (NHAI) to set up infrastructure investment trusts (InvITs) to monetize highway assets.

In brief:

  • Given the magnitude of the Bharatmala program, NHAI would need adequate funds to complete the projects within the prescribed timelines.
  • NHAI will rely on monetizing assets as a source of funds in the coming years. The highways authority plans to raise more than ₹85,000 crore by fiscal year 2025 through the toll-operate-transfer (ToT) model and infrastructure investment trusts (InvITs).

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