InfrastructureAfter close
New penalties for contractors on national highway accidents
after close1 source ↓written by the desknot a recommendation
- fine
- ₹25 lakh
- for subsequent incidents
- ₹50 lakh
- identified nationwide
- 3,500 accident-prone areas
The Ministry of Highways has introduced a new rule imposing penalties on contractors for road mishaps on National Highways. A ₹25 lakh fine will be levied for each repeat accident within a year, escalating to ₹50 lakh for subsequent incidents. This move aims to enhance safety measures across 3,500 accident-prone areas identified nationwide.
This regulation may impact contractors involved in highway construction, potentially increasing operational costs and liability concerns. Traders should monitor related stocks closely as compliance costs may affect profitability.
Not investment advice. For informational purposes only.