FASTag toll collection reaches ₹3,356 crore in October
FASTag toll collection reaches a record ₹3,356 crore revenue in October 2021 from around 21.42 crore transactions, reports PTI. The record transactions and higher toll collection come on the back of increased economic and transportation activities across India, especially during the festive season.
Also, the news agency claimed that toll collection through FASTag transactions recorded an all-time high of ₹122.81 crore on Saturday.
The report claims that toll collection through FASTag recorded 193.6 million transactions amounting to ₹3,000 crore in September this year. In August, the transactions through FASTag registered 201.2 million transactions amounting to ₹3,076.56 crore.
FASTags have become mandatory across India from February 15 this year. All the toll plazas on national highways and state highways collect toll fees through FASTags only. The FASTag implementation is claimed to have significantly reduced the waiting time on national highways and increased transparency as well.
Currently, around 722 toll plazas on national highways and 196 toll plazas on state highways across India collect toll fees through FASTag. Nearly 82 per cent of the total toll fee collected comes from commercial vehicles heavy vehicles. Cars contribute around 18 per cent of the cumulative toll collection. Since the implementation of FASTag, revenue collection from toll plazas have increased significantly.
The FASTag enabled vehicles come with a sticker pasted on the windshield. The sticker carries a chip that is connected to the user's bank account or digital wallet. Whenever the vehicle passes through a toll plaza, the system at the location detects the chip through radio signals and debits the required toll fee amount directly from the user's bank account or digital wallet.
FASTag comes as part of the Indian government's initiative to enhance digital transactions across various sectors. The FASTags are issued by various banks and digital wallet aggregators.