Finance Minister Nirmala Sitharaman has introduced the National Bank for Financing Infrastructure and Development (NBFID) Bill 2021 in the Lok Sabha yesterday i.e. A state-owned DFI can be set up by this to finance infrastructure projects.
It has been revealed that the Union Cabinet had approved the setting up of DFI last week. Which was also proposed in the budget. This is going to benefit the tax to enable investors to raise money.
It is also being said that the National Bank for Financing Infrastructure and development is going to be set up with a corpus of Rs. 20,000 crore and the government is going to make an initial grant of Rs. 5,000 crores. The government hopes that in the next few years, the DFI is going to increase the fund to Rs 3 lakh crore.
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