Activated NIIF for capital flow
The Government is constantly taking various initiatives to boost investment in the economy, including economically backward area, Minister of Finance & Corporate Affairs, Nirmala Sitharaman in a written reply to Parliament on 24 June 2019.
The measures aim to improve ease of doing business, comprehensive reforms in the Foreign Direct Investment (FDI) Policy, various facilitation measures under the flagship programmes like Make-in-India, Start-up India, reduced Corporate Tax rate of 25% for companies with turnover up to Rs.250 crore, launch of a support and outreach program for helping the growth, expansion and facilitation of Micro, Small and Medium Enterprises (MSME) Sector etc.
Further, various steps have been taken relating to developing instruments and institutions to attract investment into infrastructure; mainstreaming Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs); periodic review of the Harmonized Master List of Infrastructure Sub-sectors.
Activation of the National Investment & Infrastructure Fund (NIIF) has also led to greater availability of capital for investment in the infrastructure sector, said the Minister.
For enhancing investment in the Bundelkhand region, action for setting-up of a Defence Industrial Corridor, as announced in Budget 2018, has been initiated. For this, six nodal points in the cities of Agra, Aligarh, Chitrakoot, Jhansi, Kanpur and Lucknow have been identified, said Sitharaman. fiinews.com