homefinance NewsExpect DFI to raise up to Rs 3 lakh crore with Rs 20,000 cr initial cap infusion: FM
Expect DFI to raise up to Rs 3 lakh crore with Rs 20,000 cr initial cap infusion: FM
Finance Minister Nirmala Sitharaman on Tuesday said that the government expects Development Finance Institution (DFI) to raise up to Rs 3 lakh crore with the initial Rs 20,000 crore cap infusion.
Finance Minister Nirmala Sitharaman on Tuesday said that the government expects Development Finance Institution (DFI) to raise up to Rs 3 lakh crore with the initial Rs 20,000 crore cap infusion.
The government has approved a bill to set up a DFI to generate funds for investment in the infrastructure sector.
"The Cabinet has cleared this bill, through which we will have an institution and institutional arrangement, which will help in increasing long-term funds," she said on Tuesday.
The proposed DFI will have 50 percent non-official directors, she added.
On tax, she said that DFI will have certain tax benefits for ten years.
In her Budget 2019-20 speech, Sitharaman had proposed a study for setting up DFIs for promoting infrastructure funding. About 7,000 projects have been identified under the National Infrastructure Pipeline (NIP) with a projected investment of a whopping Rs 111 lakh crore during 2020-25.
First Published: Mar 16, 2021 3:49 PM IST
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