The assessment parameters are based on different international practices and studies for benchmarking highway performances in Indian context. The criteria for the assessment have been broadly categorised in three main heads: Highway Efficiency (45%), Highway Safety (35%) and User Services (20%). On the basis of outcome of the assessment, the authority will undertake a comprehensive analysis and decide on the level of intervention required to enhance the overall service quality.

Additionally, important parameters like operating speed, access control, time taken at toll plaza, road signages, road markings, accident rate, incident response time, crash barriers, illumination, availability of Advanced Traffic Management System (ATMS), functionality of structures, provision for grade separated intersections, cleanliness, plantation, wayside amenities and customer satisfaction will also be considered while conducting the assessment.

The score obtained by each Corridor in each of the parameter will provide a feedback and corrective recourse for higher standards of operation, better safety and user experience to improve existing highways. This will also help in identifying and filling gaps of design, standards, practices, guidelines and contract agreements for other NHAI projects.

The ranking of the corridors will be dynamic and the concessionaire/ contractor/ operator will get the opportunity to improve upon their ranking by improving the services on that corridor. Apart from overall ranking of all the corridors, separate ranking for BOT, HAM and EPC projects will also be done. This process of ranking will bring out operational efficiency and ensure high quality maintenance of roads.

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Background:
Roads and highways are the lifeline of the economy, connecting remote and far-flung areas and ensuring efficient transportation on regional as well as pan-India basis. Development of National Highways has a multiplier effect in terms of facilitating trade and enhancing the overall economic development of a region.

In October 2017, Government of India launched BharatmalaPariyojana, which is the flagship highway development programme of Government of India for development of 24,800 km of roads for a total investment of Rs. 5,35,000 crore.

Given the magnitude of the Bharatmala program, NHAI would need adequate funds to complete the Projects within the prescribed timelines. As a part of this exercise, a workable option is to monetize the completed and operational NH assets to unlock their value and offer attractive schemes to private players to invest in construction of National Highways.

Implementation:
Using new and innovative financing vehicles has become inevitable for organisations like NHAI that have limited existing sources of funds. The then Finance Minister, in his Budget Speech of year 2018-19, had stated that NHAI may consider organizing its road assets into Special Purpose Vehicles and use innovative monetizing structures such as Toll, Operate and Transfer model and Infrastructure Investment Trusts (InvlTs)

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