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The finance ministry on Monday said the country was equipped -- on the strength of the vaccination drive and the government’s management of the pandemic -- to combat any downside risks posed by the recent surge in Covid-19 cases. The ministry’s Economic Affairs Department, in its monthly report, said the capital expenditure (capex) cycle was in motion, and its signs would be seen in the second half of the year. The confidence has come at a time when the country is seeing an exponential rise in Covid cases. “As the vaccination drive continuously upscales in India and guided by the le...

India well-armed to tackle second wave: Finance Ministry SECTIONS Share Synopsis The boost to infrastructure and capital spending in the budget along with the AtmaNirbharBharat Mission would contribute to the resilience of the economy and lead to brighter prospects in the new fiscal, the report said. Getty Images India was well-armed to combat any downside risk posed by the recent surge in Covid-19 cases on account of the vaccination drive and its experience from managing the pandemic during the first wave, the finance minister said in its Monthly Economic Report for March. The boost to infr...

The new DFI must look beyond financing Roads Funding challenges   -  V Raju× The proposed development finance institution must find ways to bring private sector back into infrastructure A brand new DFI, the National Bank for Financing Infrastructure and Development (NABFID) is taking shape. The focus now, rightly so, is on equipping it financially to raise long-term money, the perennial bugbear of infrastructure financing. In a system awash with liquidity, this should not be too difficult, though it looks likely that NABFID will also lean on tax-break related funds as NHAI, IIFCL or PFC....

Repurpose Existing Dev Finance Arms March 18, 2021, 10:55 AM IST Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The Cabinet nod for an infrastructure-focused development finance institution (DFI) is noteworthy, given lacklustre credit growth in the backdrop of stepped up capital expenditure in the budget. But it would surely make better sense to repurpose an operational DFI, such as IFCI or IIFL, to boost project funding, with special focus on project vetting. Reports say that the National Ban...

National Infrastructure Pipeline: Union Cabinet Approves Bill To Set Up A New Bank To Exclusively Fund Infrastructure Projects National Infrastructure Pipeline The new development finance institution (DFI) is widely viewed as a potentially transformative move that could help significantly bridge the funding requirements for the infrastructure projects identified under the ambitious Rs 102 lakh crore (US$1.4 trillion) National Infrastructure Pipeline. Operationalizing a key announcement made in this year's Union Budget, Finance Minister Niramal Sitharaman today (Mar 16) said that Union cabinet...