Government to set up National Investment and Infrastructure Fund

By Accommodation Times News Services

The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley departs from North Block to Parliament House along with the Minister of State for Finance, Shri Jayant Sinha to present the General Budget 2015-16, in New Delhi on February 28, 2015.The Union Finance Minister Shri Arun Jaitley has announced the setting up of a National Investment and Infrastructure Fund (NIIF). Presenting the General Budget 2015-16 in the Lok Sabha here today, the Finance Minister stated that an annual flow of Rs.20,000 crore will be ensured for the NIIF. This will enable the Trust to raise debt, and in turn, invest as equity, in infrastructure finance companies such as IRFC and NHB. The infrastructure finance companies can then leverage this extra equity, manifold.

Further Finance Minister, has also proposed an increase in investment in infrastructure by Rs. 70,000 crore in the year 2015-16 over the year 2014-15 from the Centre’s funds and resources of CPSEs.   The Minister stated that the present state of infrastructure does not match the growth ambitions. Hence he has increased outlay on both the roads and the gross budgetary support to the Railways by Rs. 14,031 crore and Rs. 10,050 crores. The CAPEX of the public sector units is expected to be Rs.3,17,889 crores, an increase of approx. Rs. 80,844 crores over RE 2014-15.

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