Wednesday, September 30
The roll-out of Rs 3000 annual toll pass for private vehicles from August 15 could hit toll revenue by up to 8% though toll users could see savings of up to 80%, said two rating agencies suggesting the government should work out a reimbursement mechanism to compensate the toll operators for the revenue loss. “We estimate 7-8% impact in toll revenue for the sample project length of 5000 km considering 20% contribution of cars in toll revenue with an assumption of 50% private passenger vehicle and 75% user adoption rate,” CareEdge Ratings said on Wednesday.“This event is likely to be considered as a change in law for release of suitable compensation to toll operators,” it said, suggesting a potential annual compensation to range between Rs 3,000-5,000 crore which can be met through i
JSW MG Motor India on Wednesday said it will hike prices of its vehicles by up to 1.5 per cent across most of its offerings from July 1. This revision is being done to mitigate the impact of rising input costs and other macroeconomic factors, the company said in a statement. The company sells a range of conventional engine and electric vehicles like Comet EV with price starting at Rs 7.36 lakh to SUV Gloster at starting price of Rs 43.35 lakh.
