Infrastructure status | UPSC CURRENT AFFAIRS |
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Which of the following ministry grants the Infrastructure status to the sector/organization:
a) Ministry of Commerce and Industries
b) Ministry of Finance
c) Ministry of Heavy Industries and Public Enterprises
d) Ministry of road transport & highways
Correct Answer is : B
- The Ministry of Finance grants infrastructure status.
- For each category, such as multi-modal logistics park, cold chain facility, and warehousing facility, the minimum investment and area criteria for receiving the infrastructure tag have been established.
- Credit – This makes it easier for businesses in these sectors to obtain long-term credit at lower rates from banks and other financial institutions.
Why in News?
The Finance Ministry has granted ‘Infrastructure’ status for exhibition and convention centers, a move that is expected to ease bank financing for such projects
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