The Union Cabinet has approved a bill to set up
Development Finance Institution (DFI) with an initial capital infusion
of 20 thousand crore rupees. The bill will be tabled in Parliament
during the current Budget Session.
DFI is expected to raise long-term funds for infrastructure development
projects in the country. Briefing reporters after the Cabinet meeting,
Finance Minister Nirmala Sitharaman said the initial grant to the DFI
will be 5 thousand crore rupees and additional increments of grants
will be made within the limit of 5 thousand crore rupees.
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(With input from news agency language)
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