Cabinet Committee on Economic Affairs okays PGCIL InvIT for worth Rs 7100 cr assets
NEW DELHI: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval to Power Grid Corp of India Limited (PGCIL) to undertake monetisation of projects through Infrastructure Investment Trust (InvIT) – a first by any public sector entity.
InvITs, like mutual funds, are designed to pool money from a number of investors to invest in assets that give steady cash flow over a period of time.
