4-5 billion dollar infrastructure fund planned by new government
The new government led by Narendra Modi has been making plans to come up with a multi-billion dollar fund in order to push the investments further. This plan has been taken up since the economy of the country desperately needs a boost, especially in the infrastructure sector.
The Road Ministry has already started to have important discussions with investors and the size of the fund could be anywhere between 4 to 5 billion dollars. According to reliable sources, the basic aim is to boost the infrastructure projects in the country, especially the road projects.
Interest has also been shown on behalf of the Japanese and Korean investors who are willing to take part in the fund. Nitin Gadkari who is the Highway and Shipping Minister has been planning to discuss the matter with these investors in the upcoming next few weeks.
The government has been working on a timeline which is less than 6 months. This means that the fund is going to the light pretty soon. Reliable sources have also mentioned that the 3% shall be the minimum commitment guarantee given to the investors.
Source – ET Now
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