Cabinet approves investment of Rs 6,000 crore in NIIF loan platform – Business News

Cabinet approves investment of Rs 6,000 crore in NIIF loan platform – Business News

The Union Cabinet on Wednesday approved an equity infusion of Rs 6,000 crore in the NIIF loan platform sponsored by the National Investment and Infrastructure Fund.

Information and Broadcasting Minister Prakash Javadekar gave this information after the cabinet meeting.

The proposal to invest Rs 6,000 crore as equity in NIIF is part of the Atmanibhar Bharat 3.0 package announced earlier this month.

To support the funding of the Rs 111 lakh crore National Infrastructure Pipeline, Finance Minister Nirmala Sitharaman said in her budget speech for this year that around Rs 22,000 crore had already been provided.

This will go towards equity support for infrastructure finance companies such as India Infrastructure Finance Company Limited (IIFCL) and NIIF’s subsidiary, the minister said.

STAY TUNED WITH US FOR MORE INTERESTING CONTENT ONLY ON DESINEW.XYZ

Leave a Reply

Your email address will not be published. Required fields are marked *