2,000 cr for development
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22/02/2003
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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.