December 2016 Current Affairs

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Union Cabinet approves raising Extra Budgetary Resources to augment infrastructure spending

Union Cabinet approves raising Extra Budgetary Resources to augment infrastructure spending
23 September 2016 Current Affairs: The Union Cabinet has given its approval to raise Rs. 31,300 crore in FY 2016-17 to augment infrastructure spending. Besides, it has also given approval to service principal and interest against the Extra Budgetary Resources (EBR) of Rs. 16,300 crore by Union Government for infrastructure spending.

The EBR is proposed to finance funds to be raised by Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation (PFC), Inland Waterways Authority of India (IWAI), and National Bank for Agriculture and Rural Development (NABARD). 

This implies that interest and principal in respect of the EBR of Rs.16,300 crore will be financed by Union Government by making suitable budget provisions.

 It will supplement the efforts of the Union Government to improve infrastructure spending and also improve revenue-capital mix of expenditure for a more sustainable growth.

Infrastructure spending is one of the key parameters for judging the sustainability of growth in a country. It is basically measured interms of the proportion of Capital expenditure to the total expenditure. In line with this approach, Union Finance Minister the Budget Speech 2016-17 had made an announcement to augment infrastructure spending further. For this purpose Union Government will permit mobilisation of additional finances to the through raising of Bonds during 2016-17.

 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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