Budget: Sitharaman Announces 100 Per Cent Tax Waiver On Investments By Sovereign Wealth Funds In Infrastructure

Presenting her second Union Budget before the nation, Union Finance Minister (FM) Nirmala Sitharaman today announced cent per cent tax concession to sovereign wealth funds on their investments into the nation's infrastructure sectors.

The move is aimed at providing a massive impetus to the infrastructure sector which is undergoing a major overhaul and is in need of gargantuan capital. The move is likely to make it more appealing for rich sovereign wealth funds to invest in Indian infrastructure needs.

The development is also likely to help the Government achieve its goal to invest Rs 100 lakh crore into the infrastructure building across India, which includes diverse sectors like roads, railways, ports, power and gas grids et cetera.