Govt permits NHAI PFC others to raise Rs 31300 crore via bonds

Psu Connect Date: 23-09-16

New Delhi. Centre today approved a proposal to raise around Rs 31,300 crore by NHAI, PFC, REC, IREDA, NABARD and Inland Water Authority through issuance of bonds this fiscal for augment infrastructure spending.

"Union Cabinet under Chairmanship of Prime Minister Narendra Modi has given its approval for raising a total of Rs 31,300 crore in the financial year 2016-17 and to service the principal and interest against the Extra Budgetary Resources (EBR) of Rs 16,300 crore by Government of India to augment infrastructure spending," said a press release.

According to statement, out of the EBR of Rs 31,300 crore, it is proposed to finance the funds to be raised by Power Finance Corporation (PFC), Indian Renewable Energy Development Agency (IREDA), Inland Waterways Authority of India (IWAI), and National Bank for Agriculture and Rural Development (NABARD) by GOI.

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