GOVT PLANS RS 10,000-CR FUND TO PROMOTE ELECTRONIC MANUFACTURING

The Union Government proposes to set up Rs 10,000-crore Electronic Development Fund (EDF) next year, to promote electronic hardware manufacturing in the country. These funds will be managed by different fund managers. Though EDF will have anywhere between 25 per cent and 100 per cent equity exposure in these funds, it will not interfere in day-to-day affairs of them. The Government will, however, give some broad guidelines to be followed.