<h1>Indian Cabinet Approves Rs. 31,300 Crore for Infrastructure Boost via Extra Budgetary Resources in 2016-17.</h1> The Union Cabinet, led by the Prime Minister, approved raising Rs. 31,300 crore in the 2016-17 financial year to enhance infrastructure spending. The government will service the principal and interest for Rs. 16,300 crore of this through Extra Budgetary Resources. Funds will be raised by Power Finance Corporation, Indian Renewable Energy Development Agency, Inland Waterways Authority of India, and National Bank for Agriculture and Rural Development. This initiative aims to bolster infrastructure investment, improving the revenue-capital expenditure mix for sustainable growth. The decision aligns with the 2016-17 Budget Speech's goal to increase infrastructure funding through bond issuance.