Do you know that the Electronic Toll Collection Through FASTag Grew 46% in 2022?
Over the past few years, Electronic Toll Collection (ETC) through FASTag has shown steady expansion. During the calendar year 2022, FASTag collected a total of Rs. 50,855 crore in tolls on fee plazas, including State Highway charge plazas. This is a gain of almost 46% as compared to Rs. 34,778 crore in 2021.
On NH charge plazas, the average daily toll collection by FASTag in December 2022 was Rs 134.44 crore, with the maximum single-day collection of Rs 144.19 crore occurring on December 24.
In a similar vein, the quantity of FASTag transactions increased by almost 48% in 2022 compared to 2021. In 2021 and 2022, there were 219 crores and 324 crores, respectively, in FASTag transactions.
With 6.4 crore FASTags given to date, the overall number of FASTag enabled charge plazas nationwide increased to 1,181 in 2022 from 922 the year before, including 323 State highway fee plazas. Notably, MoUs have been inked for the on-boarding of State fee plazas under the FASTag initiative with 29 different State entities or bodies, including states like Uttar Pradesh, Maharashtra, Gujarat, Madhya Pradesh, Telangana, and Karnataka, among others.
The use of FASTag has drastically decreased the amount of time users must wait at NH Fee Plazas, improving user experience. The ongoing expansion and use of FASTag by highway users has contributed to increased toll operations efficiency.
The implementation of an electronic toll collection system at various payment locations along national highways has improved system transparency and enabled accurate valuation of road assets, which has inspired more investors to make investments in the nation's highway infrastructure, particularly in asset recycling.
What is your opinion on the growth of FASTag ?