|
| Govt approves transferring Rs 10,000 cr to NHAI from IIFCL |
| Press Trust of India / New Delhi Nov 25, 2009, 16:31 IST |
|
The government today said that Rs 10,000 crore will be transfered to NHAI for road projects from the borrowing approval of Rs 30,000 crore given to infrastructure refinance company IIFCL.
This is in addition to the ambitious plan to award road projects worth Rs 2,00,000 crore in the next two years on public-private partnership basis, the Rajya Sabha was told.
"Out of the borrowing approval of Rs 30,000 crore earlier provided to IIFCL, Rs 10,000 crore under the fiscal stimulus package will be transferred to NHAI, as per its borrowing requirement," Road Transport and Highways Minister Kamal Nath told the Upper House in a written reply.
India Infrastructure Finance Company Ltd (IIFCL) was allowed to raise Rs 10,000 crore of tax-free bonds in the first stimulus package announced in December 2008, and Rs 30,000 crore in the second stimulus package declared on January 2, 2009.
While announcing the second stimulus package, Planning Commission Deputy Chairman Montek Singh Ahluwalia had said," Expansion of infrastructure investments in PPP area is a very important part of the effort to mark the counter-cyclical thrusts at a point when there is a bit of global slowdown."
He had said the package to IIFCL would lay the foundation for broader investment revival and for broader growth.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
