Budget 2020: ₹22,000-crore equity support for two infrastructure finance companies
To support the funding of infrastructure over the next five years, that would require Rs 103 lakh crore, government has provided about Rs 22,000 crore as equity support to two government-owned infrastructure agencies.
In her Budget speech, Finance Minister Nirmala Sitharaman announced, “This would cater for equity support to infrastructure finance companies such as India Infrastructure Finance Company Ltd and a subsidiary of National Investment and Infrastructure Fund. They would leverage the funds, as permissible, to create a financing pipeline of more than Rs 1 lakh crore. This would create a major source of long-term debt for infrastructure projects and fulfil a long awaited requirement.”
About 6,000 km of highways will be “monetised” before 2024, Sitharaman said, adding a major port will be corporatised and listed.
