Cabinet approves Rs 6,000 crore infusion in NIIF debt platform

The Union Cabinet on Wednesday approved equity infusion of Rs 6,000 crore in NIIF Debt Platform sponsored by National Investment and Infrastructure Fund.
Information and Broadcasting Minister Prakash Javadekar(PTI photo)
Information and Broadcasting Minister Prakash Javadekar(PTI photo)
Updated on Nov 25, 2020 05:45 PM IST
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New Delhi | ByPress Trust of India | Posted by Niyati Singh

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.

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

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.

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