India, Jan. 14 -- Rating agency ICRA has said there is a need to increase capital outlay in the road sector by at least 15 per cent besides expediting asset monetisation programme. It also said that hybrid annuity mode of highways building presents huge refinancing opportunities and 70 such projects involving Rs 35,800 crore of debt are expected to become operational in the next two years. It added that FY2022 remains a crucial year for two reasons: a) Importance of government spending to revive economy and b) Significant catch up to do in the ongoing Bharatmala and allied programmes. As a result, the capital outlay is required to be increased by at least 15 per cent.

Shubham Jain, Senior Vice President, Corporate Ratings, ICRA, said incre...