30.7.15

NIIF cleared by Cabinet

The Cabinet on Wednesday approved setting up of 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 Cabinet chaired by PM Modi also approved the proposal to allow foreign investment in Alternative Investment Funds (AIFs) set up under the Securities and Exchange Board of India (SEBI) regulations to facilitate domestic investment.
The NIIF is being established to maximize “economic impact“ mainly through infrastructure development in commercially viable projects, both greenfield and brown field including stalled projects. The fund could also consider funding nationally important projects in the manufacturing sector.

No comments: