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On Wednesday the government has allowed seven state-owned entities to raise Rs 40,000 crore this fiscal through tax-free bonds, it includes NHAI, IRFC and NTPC.
According to a notification issued by the Central Board of Direct Taxes (CBDT), the National Highways Authority of India is permitted to raise Rs 24,000 crore and Indian Railway Finance Corporation (IRFC) has been permitted to raise Rs 6,000 crore.
The NTPC, Power Finance Corporation and Rural Electrification Corporation can issue tax-free bonds of Rs 1,000 crore each, whereas Housing and Urban Development Corporation is allowed to raise Rs 5,000 crore. Indian Renewable Energy Development Agency is allowed to raise Rs 2,000 crore.
