Cabinet approves Bill to set up DFI
The Hindu
The Union Cabinet on Tuesday approved a bill to set up a Development Finance Institution (DFI) to generate funds for investment in the infrastructure sector.
The proposed legislation will give effect to the Budget announcement made by Finance Minister Nirmala Sitharaman on February 1. The government has proposed Rs 20,000 crore to capitalise the institution. “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 after the meeting of the Cabinet.
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