Good track for NHAI

Listing the highways authority is a good idea

Union Minister for Roads Nitin Gadkari said last week that the National Highways Authority of India (NHAI) might come up with an initial public offering or IPO, indicating that a proposal to this effect had been lodged with the Union finance ministry. Mr Gadkari has long argued that there is “no shortage” of money for road-building projects in India, and he did so again while discussing the possible NHAI IPO. Yet the facts do not suggest that the government should be so sanguine about funding. Indeed, even Mr Gadkari felt it necessary to argue that banks were taking too long