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Govt. allots Rs. 2,000-cr. for infra funding
Why is it in news?
- The Cabinet approved the infusion of Rs. 6,000 crore as equity into a new debt platform to raise up to Rs. 1.1 lakh crore for financing infrastructure projects by 2025.
Details:
- Finance Minister had announced the plan to provide equity capital to the debt platform sponsored by the National Investment and Infrastructure Fund (NIIF), as part of the last round of stimulus measures announced on November 12.
- About National Investment and Infrastructure Fund (NIIF):
(1) It is a collaborative investment platform for international and Indian investors, anchored by the Government of India.
(2) NIIFL invests across asset classes such as infrastructure, private equity and other diversified sectors in India, with the objective to generate attractive risk-adjusted returns for its investors.
- The NIIF’s infrastructure debt financing platform is expected to contribute almost ₹1 lakh crore in debt to the infrastructure sector over the next five years.