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The Union Cabinet on Wednesday gave its nod for raising extra budgetary resources (EBR) of ₹ 31,300 crore in the financial year 2016-17.
This will be used to finance the funds to be raised by Power Finance Corporation (PFC), Indian Renewable Energy Development Agency (IREDA), Inland Waterways Authority of India (IWAI), and National Bank for Agriculture and Rural Development (Nabard).
This move is intended to supplement the efforts of the Government to improve infrastructure spending and to improve the revenue-capital mix of expenditure for a more sustainable growth, an official release said..
Finance Minister Arun Jaitley had in his 2016-17 Budget speech said that Government will permit the mobilisation of additional finances to the extent of Rs 31,300 crore by NHAI, REC, IREDA, Nabard and Inland Water Authority through raising of bonds during 2016-17.
srivats.kr@thehindu.co.in
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