Parliament proceedings | Govt introduces NaBFID Bill in Lok Sabha
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Union Cabinet accepted a price range proposal of establishing a Development Finance Institution (DFI) final week
Finance Minster Nirmala Sitharaman on March 22 launched the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 in the Lok Sabha to pave approach for establishing of a government-owned DFI to fund infra tasks.
Also learn: Parliament proceedings updates, March 22, 2021
The Union Cabinet had final week accepted a price range proposal of establishing a Development Finance Institution (DFI), which can have tax advantages to allow fund elevating from traders.
The National Bank for Financing Infrastructure and Development shall be arrange with a corpus of ₹20,000 crore and the federal government will give an preliminary grant of ₹5,000 crore.
The authorities expects the DFI to leverage this fund to boost as much as ₹3 lakh crore in the following few years.
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