ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Companies News

NHAI raises Rs 10,000 crore from EPFO; LIC to invest Rs 8,500 crore

"Life Insurance Corporation (LIC) has agreed in principle to subscribe to NHAI taxable bonds to the tune of Rs 25,000 crore subject to not more than Rs 8,500 crore in one financial year. The terms and conditions are under negotiations," Radhakrishnan said.

  • Twitter
  • Facebook
  • GPlus
NHAI raises Rs 10,000 crore from EPFO; LIC to invest Rs 8,500 crore
NHAI will raise Rs 20,000 crore through EPFO, Rs 8,500 crore through LIC, Rs 5,000 crore each through Masala and 54-EC bonds. Photo: Pixabay
By PTI
Updated: Thu, Nov 24, 2016
03:59 pm
New Delhi, PTI
RELATED NEWS
Welspun Enterprise inks agreement with NHAI for Rs 2,005 crore project in TN Welspun Enterprise inks agreement with NHAI for Rs 2,005 crore project in TN
Kundli-Manesar-Palwal Expressway inauguration by PM Modi: Check route, impact on NCR as Delhi gets 4th Ring Road Kundli-Manesar-Palwal Expressway inauguration by PM Modi: Check route, impact on NCR as Delhi gets 4th Ring Road
PM Narendra Modi to inaugurate Rs 1,572 cr NHs in Varanasi PM Narendra Modi to inaugurate Rs 1,572 cr NHs in Varanasi
Infrastructure sector in India is crumbling, even new models proving unviable; here is key to revival Infrastructure sector in India is crumbling, even new models proving unviable; here is key to revival
Infrastructure companies bidding for NHAI projects fall, but top 10 ink major gains  Infrastructure companies bidding for NHAI projects fall, but top 10 ink major gains

National Highways Authority of India has raised Rs 10,000 crore from retirement fund body EPFO's bonds so far this fiscal, while LIC has in-principle has agreed to subscribe to its taxable bonds worth up to Rs 8,500 crore till March-end, Parliament was informed today.

NHAI in the current fiscal has raised Rs 10,000 crore through taxable bonds of Employees Provident Fund Organisation (EPFO), data presented by Minister of State for Road Transport and Highways P Radhakrishnan in Lok Sabha showed.

"Life Insurance Corporation (LIC) has agreed in principle to subscribe to NHAI taxable bonds to the tune of Rs 25,000 crore subject to not more than Rs 8,500 crore in one financial year. The terms and conditions are under negotiations," Radhakrishnan said.

It has also raised additional Rs 11,929 crore through investors availing capital gains exemption (outstanding as on October 31, 2016), the data showed.

Section 54 EC of Income Tax Act, 1961 provides an option to save tax on capital gain arising from transfer of long term capital asset subject to certain conditions.

Besides,, the government also raised Rs 10,000 crore, Rs 5,000 crore and Rs 19,000 crore through tax-free bonds during 2011-12, 2013-14 and 2015-16, respectively, the data showed.

"The estimated total investment required by NHAI for execution of different highway projects is Rs 71,911 crore (Budget Estimate 2016-17)," Radhakarishnan said.

Earlier this week, Minister of State for Road Transport and Highways Mansukh L Mandavia told Rajya Sabha that to finance its various projects, NHAI plans to raise Rs 55,000 crore in the current fiscal.

It will raise Rs 20,000 crore through EPFO, Rs 8,500 crore through LIC, Rs 5,000 crore each through Masala and 54-EC bonds and Rs 16,500 crore from the market, he had said.

TAGS:
National Highway Authority of India (NHAI)masala bondLife Insurance Corporation of India (LIC)Employees Provident Fund Organisation (EPFO)InvestmentsInfrastructure
RELATED NEWS
Welspun Enterprise inks agreement with NHAI for Rs 2,005 crore project in TN Welspun Enterprise inks agreement with NHAI for Rs 2,005 crore project in TN
Kundli-Manesar-Palwal Expressway inauguration by PM Modi: Check route, impact on NCR as Delhi gets 4th Ring Road Kundli-Manesar-Palwal Expressway inauguration by PM Modi: Check route, impact on NCR as Delhi gets 4th Ring Road
PM Narendra Modi to inaugurate Rs 1,572 cr NHs in Varanasi PM Narendra Modi to inaugurate Rs 1,572 cr NHs in Varanasi
Infrastructure sector in India is crumbling, even new models proving unviable; here is key to revival Infrastructure sector in India is crumbling, even new models proving unviable; here is key to revival
Infrastructure companies bidding for NHAI projects fall, but top 10 ink major gains  Infrastructure companies bidding for NHAI projects fall, but top 10 ink major gains

LATEST NEWS

India is one of the fastest-growing emerging markets for Airbnb: Blecharczyk

How to get a PAN card in India

Zomato delists 5,000 restaurants in Feb for failing to meet hygiene standards

Trump says he's inclined to extend China trade deadline and meet Xi soon

Global Markets: US-China trade hopes lift stocks; oil hits three-month high

Public Provident Fund Investment: How to turn Rs 416/day into Rs 43 lakh, save income tax

Vistara-Japan Airlines enter into codeshare partnership

Volkswagen warns of challenges, to redouble efforts to meet targets

NASA clears SpaceX test flight to space station

OPPO wants to do a OnePlus, enter US market: Report

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved