News Brief | September 2013
13 Govt Frms Allowed to Raise Rs 48,000 cr Via Bonds
The union government has permitted 13 institutions to raise Rs 48,000 crore via tax free bonds in 2013-14 to facilitate infrastructure needs of public sector institutions. Of the Rs 48,000 crore, more than half of it will be grabbed by the Indian Railway Finance Corporation (Rs 10,000 crore each) and Power Finance Corporation (Rs 5,000 crore). National Highway Authority of India (NHAI), Housing and Urban Development Corporation, and Rural Electrification Corporation would raise Rs 5,000 each.