Govt mulls Rs10 trillion public financing for infrastructure projects
Transport minister Nitin Gadkari. India plans to invest as much as Rs3.96 trillion in FY18 to bankroll its new integrated infrastructure project which involves building of roads, railways, waterways and airports. Photo: PTI
NEW DELHI: With bank credit drying up for large infrastructure projects, the National Democratic Alliance (NDA) government is exploring a plan to raise Rs10 trillion from retirees and provident fund beneficiaries, said transport minister Nitin Gadkari.
The plan aims to raise money in tranches of Rs10,000 crore by selling 10-year bonds at a coupon of 7.25-7.75%.
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