Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
"We have not dropped the idea (of using foreign exchange reserves) and are still discussing it," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters on the sidelines of CNBC-TV18 India Economic Conclave.
He said the proposal is being actively considered by the authorities concerned, including the Reserve Bank of India and the ministry of finance, and a decision would be taken soon.
"There is a lot of interest in the proposal and it remains a sensible idea and has to be done sensibly," he said.
Montek had earlier floated the idea of using $5 billion of foreign exchange, which currently hovers around $130 billion, every year for the next three years to "fill critical gaps in the country's infrastructure."