The Union Cabinet has approved a bill to set up Development Finance Institution (DFI) with an initial capital infusion of 20 thousand crore rupees. The bill will be tabled in Parliament during the current Budget Session.
DFI is expected to raise long-term funds for infrastructure development projects in the country. Briefing reporters after the Cabinet meeting, Finance Minister Nirmala Sitharaman said the initial grant to the DFI will be 5 thousand crore rupees and additional increments of grants will be made within the limit of 5 thousand crore rupees.
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