Govt. to use forex reserves for infrastructure development

Govt. to use forex reserves for infrastructure development
PTI
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First Published: Wed, Feb 28 2007. 05 55 PM IST
Updated: Wed, Feb 28 2007. 05 55 PM IST
Prime Minister said the government was considering utilising a part of the foreign exchange reserve for infrastructure development and this was being discussed with the Reserve Bank of India.
“We are toying with the idea of utilising foreign exchange reserves for infrastructure development. Things are under discussion with the RBI in this regard,” he said.“This will materialise in due course,” Singh said.
He said the government planned to extend the National Rural Employment Guarantee Scheme to 330 districts from the current 200 districts.He also said the budget proposed a new life insurance programme for landless workers.
“We need to strengthen the impulses to expand investment in infrastructure,” Singh said.Observing the need for vocationalisation of education, he said there was a need for expanding the facilities that were available through the medium of ITIs.
“The Finance Minister mentioned modernisation of 500 ITIs and he also mentioned 1,400 additional ITIs which need to be modernised.
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First Published: Wed, Feb 28 2007. 05 55 PM IST