NHAI & IRFC get nod to raise ` 30,000 Crore

The Finance Ministry has mandated National Highway Authority of India (NHAI) and Indian Railways Finance Corporation (IRFC) to raise ` 24,000 crore and ` 6,000 crore, respectively, by selling tax-free bonds. The ministry has given its in principle approval to NHAI and IRFC, but the green light may include a clause that issuers, after raising funds, have to lend to respective sectors
below the bank rates (base rates).