India to set up development finance institution to fund infra projects
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/03/c3e114548f260adeaa61949736a2c59d.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
NEW DELHI - India's federal cabinet on Tuesday approved a development financial institution to boost investment in infrastructure projects, finance minister said.
"I expect the institution to raise up to 3 trillion rupees ($41.36 billion) in the next few years," Nirmala Sitharaman, India's finance minister told reporters, after a cabinet meeting chaired by Prime Minister Narendra Modi.
In her annual budget for 2021/22 presented on Feb. 1, Sitharaman had proposed to allocate 200 billion rupees for setting up a development finance institution, with a view to partly fund proposed $1.5 trillion in infrastructure projects over the next few years.
($1 = 72.5350 Indian rupees)
(Reporting by Aftab Ahmed and Manoj Kumar and Louise Heavens)
![](https://portfolio.investmentguruindia.com/uploads/news/Shivam Thakral, CEO of BuyUcoin.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Tesla117117.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dilip Chenoy, Chairman, Bharat Web3 Association.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/National Health Mission.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Vikas Gupta, OmniScience.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/202407243192131.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Budget_3.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Cotton Report.jpg)