Union Cabinet approves Rs 6,000 cr infusion in NIIF debt platform

Union Cabinet approves Rs 6,000 cr infusion in NIIF debt platform

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The on Wednesday approved equity infusion of Rs 6,000 crore in Debt Platform sponsored by National Investment and Infrastructure Fund.

This was informed by Information and Broadcasting Minister after the Cabinet meeting.

The proposal to invest Rs 6,000 crore as equity into 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.)

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