Cabinet approves formation of Development Finance Institution
The Union Cabinet headed by Prime Minister Narendra Modi on Tuesday accepted the establishing of Development Finance Institution (DFI) which was introduced within the Union Budget 2021-22, Finance Minister Nirmala Sitharaman stated.
Briefing the media after the cabinet assembly, Sitharaman stated that the DFI Bill which has been cleared by the cabinet will likely be now be tabled in parliament.
She stated that the federal government expects the DFI to lift upto 3 lakh crore with the preliminary Rs 20,000 crore cap infusion.
The new DFI could have sure tax advantages for 10 years.
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