The Union Cabinet has approved the infusion of ₹6,000 crore as equity into a new debt platform to generate about ₹1.1 lakh crore for financing infrastructure projects by 2025. Of the equity to be injected by 2021-22, the Cabinet has also approved ₹2,000 crore for disbursal this year subject to the funds being required. Stimulus measure announced by the FM is a part of the plan to provide equity capital to the debt platform sponsored by the NIIF, as part of the last round of the stimulus measures. Given the unprecedented financial situation and availability of limited fiscal space due to the prevailing COVID-19, the proposed amount may be disbursed only if there is readiness and demand for debt generating. Stressing that the decision would strengthen India's bond markets, Union Information and Broadcasting Minister Prakash Javadekar has stated that another ₹7,000 crore would be raised as equity for the debt platform. Cabinet had asked the NIIF to take all necessary initiatives to use equity investments from domestic and global pension funds and sovereign wealth funds expeditiously. The NIIF's infrastructure debt financing platform is expected to contribute almost ₹1 lakh crore in debt to the infrastructure sector over the next five years.
📅Published on:
04 December 2020
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