The Central Government on Wednesday gave its approval for re validation of permission to raise Extra Budgetary Resource (EBRs) of Rs. 660 crore through government bonds by Inland Waterways Authority of India (IWAI) in 2017-18.
The proceeds from the bonds will be utilised by IWAI for development and maintenance of National Waterways (NWs) under National Waterways Act, 2016 (effective from 12.4.2016).
Funds received through issue of bonds will be used exclusively for capital expenditure to improve infrastructure funding.
The investment will be undertaken for development of NWs on identified projects in 2017-18 is estimated to be approximately Rs. 2412.50 crore.