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TOT: Government mulls reducing lease period to 20 years

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The government may reduce the lease period for projects under the toll-operate-transfer model to 20 years from 30.

The TOT model was implemented in 2016 to monetise publicly funded highways.

The move needs the approval of the Union Cabinet and an NHAI official told the paper that it has initiated the process.

The first round of TOT auctions fetched the government more than Rs 9,000 crore. However, the second auction was cancelled due to a lukewarm response.