New Delhi, Dec. 2 -- The finance ministry has proposed toincrease the scope and financial strength ofIndia Infrastructure Finance Company Limited (IIFCL) to a development finance institution (DFI), for which a Bill will be tabled in the budget session of Parliament, said media reports.

The move is seen as an attempt to push infrastructure development that requires long term investment. The proposed changes will lower the cost of finance by the non-banking lender and infrastructure projects of a wider variety.

A Cabinet note to give DFI status to IIFCL has been prepared the department of financial service.

A mint report said IIFCL plans to tap 10 per cent of these infrastructure projects envisaged the government, including premium housi...