The Union Cabinet on Wednesday approved equity infusion of Rs 6,000 crore in NIIF Debt Platform sponsored by National Investment and Infrastructure Fund.
This was informed by Information and Broadcasting Minister Prakash Javadekar after the Cabinet meeting.
The proposal to invest Rs 6,000 crore as equity into NIIF is part of the Aatmanirbhar Bharat 3.0 package announced earlier this month.
To support the funding of the National Infrastructure Pipeline of Rs 111 lakh crore, Finance Minister Nirmala Sitharaman in her Budget speech this year had said that about Rs 22,000 crore has already been provided.
This would be towards equity support to infrastructure finance companies such as India Infrastructure Finance Company Ltd (IIFCL) and a subsidiary of NIIF, the minister had said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.