NHAI Affirms Linking Factor for WPI Conversion in User Fee Revision

NHAI Affirms Linking Factor for WPI Conversion in User Fee Revision

NHAI Affirms Linking Factor for WPI Conversion in User Fee Revision​

The National Highways Authority of India (NHAI) has clarified and confirmed the linking factor to be used for the revision of user fees across all existing contracts and concession agreements. The move solidifies the use of a specific linking factor to convert the Wholesale Price Index (WPI).

According to updates received from Maple Infrastructure Trust, NHAI issued a circular on July 8, 2026, setting out the confirmed policy regarding this matter. This new directive states that the linking factor of 1.641 shall be retained. This factor is intended for linking the WPI series of 2004-05 to the WPI series of 2011-12 in the context of user fee revision across all existing contracts and concession agreements.

The NHAI circular also established that this new directive supersedes an earlier circular issued by the authority dated September 13, 2025.

In alignment with these updates, the Ministry of Road Transport & Highways (MoRTH) confirmed its decision regarding the linking factor on July 29, 2026. The MoRTH established that the Linking Factor of 1.641 shall be adopted to link the WPI Series of 2004-05 with the WPI Series of 2011-12 for user fee revision in all existing contract and concession agreements on National Highways.

This Ministry Order (OM) supersedes a previous OM dated August 3, 2018, previously issued by the Ministry regarding user fee revision. The decision was taken following observations from the Comptroller and Auditor General (C&AG) and directions from the Hon'ble High Court of Delhi concerning the use of a linking factor for WPI conversion.

The matter highlights the importance of consistent implementation guidelines across all concerned divisions and road pricing departments within the Ministry.

Stock Price Movement​

The Maple Infrastructure Trust shares settled at ₹142.50 at the close of trade on Friday, recording no change from its previous valuation. This price point held firm as the shares were locked completely flat, trading within a zero intraday range.
 

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