Indian Development Assistance Scheme (IDEAS) to be revamped

The Finance Minister said that in line with its ancient wisdom, India has always pursued a policy of economic cooperation with countries through bilateral and regional coordination. Mindful of India's position as the sixth largest economy, the Government will look at alternative development models which include private sector equity, multilateral financing, contributions from corporate and non-residents. The Finance Minister proposed that the IDEAS scheme will be revamped during the current financial year. Indian Development Assistance Scheme (IDEAS) provides concessional financing for projects and contributes to infrastructure development and capacity building in the recipient developing countries.

Source : Equity Bulls

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