2,000 cr for development

  • 22/02/2003

  • Pioneer (New Delhi)

Carrying forward the momentum of infrastructure development, the Centre is likely to create a development fund with an initial corpus of Rs 2,000 crore in the forthcoming Budget. The Infrastructure Development Fund would seek to serve as a fallback system for infrastructure project, and to help projects that fail or spin into a phase of financial uncertainty due to various reasons and encourage private players to invest in major projects. The proposal was mooted after the Dabhol power project entered a rough patch following the impasse between US major Enron and the Maharashtra Government.