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The Union Cabinet on Wednesday gave its nod for raising extra budgetary resources (EBR) of ₹31,300 crore in the financial year 2016-17.
This will be used to finance the funds to be raised by Power Finance Corporation, Indian Renewable Energy Development Agency (IREDA), Inland Waterways Authority of India, and National Bank for Agriculture and Rural Development (NABARD).
This is to supplement the efforts of the Centre to improve infrastructure spending and the revenue-capital mix of the expenditure for sustainable growth, an official release said.
Finance Minister Arun Jaitley had, in his Budget speech, said the government would permit mobilisation of additional of additional finances to the extent of ₹ 31,300 crore by NHAI, REC, IREDA, NABARD and Inland Water Authority through raising of bonds during the fiscal year.
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