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Cabinet approves Extension of Concessional Financing Scheme (CFS) to support Indian Entities bidding for strategically important infrastructure projects abroad

News and Press Release - Dated:- 1-8-2018 - The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the first extension of Concessional Financing Scheme(CFS) to support Indian Entities bidding for strategically important infrastru .....

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proposed to extend the Scheme for another five years from 2018 to 2023. Financial Implications: Financial implication is towards payment of Interest Equalization Support (IES) to the lending Bank for which budgetary provision will be made by the Depa .....

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IES is in respect of existing project only. Major Impact: Prior to the introduction of CFS, Indian entities were not able to bid for large projects abroad since the cost of financing was very high for them and bidders from other countries such as Ch .....

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dian entities, the CFS enables India to generate substantial backward linkage induced jobs, demand for material and machinery in India and also a lot of goodwill for India. Implementation Strategy and Targets: Under the Scheme, MEA selects the specif .....

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red by Secretary, DEA and with members from Department of Expenditure, Ministry of External Affairs, Department of Industrial Promotion and Policy (DIPP), Department of Commerce, Department of Financial Services and Ministry of Home Affairs. The Depu .....

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