New Delhi: The government is taking a cautious approach to capital market funding for a city with limited capital, the capital markets ministry said on Tuesday, but the issue is not yet resolved.
The ministry said it is not sure when the government will issue an ordinance on issuing funds to finance a new capital, but it is expected to do so soon.
The ministry has also asked the Centre to provide more funds to the states for infrastructure development and urbanization, as well as to cover other cost overruns.
Last month, the government had raised Rs 1,500 crore for the capital city, but only about Rs 600 crore of the total amount is available for capital expenditure.
