Cabinet okays Rs 6K cr infusion in NIIF debt platform

Cabinet approves Rs 6,000 cr infusion in National Investment and Infrastructure Fund debt platform

The proposal to invest the amount as equity into NIIF is part of the Aatmanirbhar Bharat 3.0 package

Prakash Javadekar. Credit: PTI File Photo

The Union Cabinet on Wednesday approved equity infusion of Rs 6,000 crore in NIIF Debt Platform sponsored by National Investment and Infrastructure Fund. This was informed by Information and Broadcasting Minister Prakash Javadekar after the Cabinet meeting.

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.