The National Highways Authority of India (NHAI) is on a path to reduce its debt to below ₹1.5 trillion (roughly $18 billion USD) in the current financial year (FY27) and aims to achieve a debt-free status by 2030. This initiative is part of a broader strategy to shift from market borrowings to budgetary support and asset monetization, which includes monetizing operational highway assets through toll-operate-transfer (TOT) bundles and infrastructure investment trusts (InvITs). The Ministry of Road Transport has set a monetization target of ₹30,000 crore (approximately $3.6 billion USD) for FY27. NHAI's budget allocation for FY27 is a record ₹1,87,293 crore (around $22.5 billion USD), which is 10% higher than the previous year's allocation. Since October 2022, NHAI's debt has decreased by about 37%, from ₹3.43 trillion (approximately $41.2 billion USD) in FY23 to around ₹2.17 trillion (roughly $26 billion USD) as of January FY26. Annual interest payments are projected to fall from over ₹30,000 crore to just over ₹20,000 crore in FY26, following negotiated settlements with banks that have also lowered interest rates. Industry experts believe that a debt-free NHAI could enhance its role in managing existing highways and improving road safety while facilitating private sector involvement in highway construction.