Consider the following statements about Consessional Financing Scheme 1 It is aimed at supporting In...........

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Consider the following statements about Consessional Financing Scheme

1. It is aimed at supporting Indian Entities bidding for strategically important infrastructure projects abroad

2. Only those companies which have 75 per cent shareholding by Indians would be supported

3. The Ministry of External Affairs is responsible for selection of projects that requires support

Which of the statement(s) is/ are true?

1 and 2 only

1 and 3 only

2 and 3 only

1, 2 and 3

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Explanation:

• Under the CFS, the government has been supporting Indian entities bidding for strategically important infrastructure projects abroad since 2015-16.

• The scheme has now been liberalised and any Indian company, irrespective of the ownership will be eligible to benefit from the scheme
• The Ministry of External Affairs (MEA) selects the specific projects keeping in view strategic interest of India and sends the same to the Department of Economic Affairs (DEA).