New Delhi, July 29
The Union Cabinet today approved creation of a Rs 20,000-crore National Investment and Infrastructure Fund (NIIF), a sort of sovereign fund, for development of infrastructure projects, including the stalled ones.
The NIIF, sources said, is being established with an aim to maximise "economic impact" mainly through infrastructure development in commercially viable projects, both green field and brown field, "including stalled projects". The government would contribute 49 per cent of the subscribed capital of NIIF. — PTI
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