new delhi ,sep 29
The Union Cabinet headed by Prime Minister Narendra Modi on Wednesday approved the doubling of the Nimach-Ratlam railway line at a total estimated cost of Rs 1,095.88 crore, Union Minister Anurag Thakur announced.Briefing the media on the key decisions taken by the Cabinet, Thakur said that the doubling of Nimach-Ratlam and Rajkot-Kanalus railway lines will benefit passengers as well as the entire industrial belt.The Cabinet approved the doubling of the Nimach-Ratlam railway line at a total estimated cost of Rs 1,095.88 crore: Union Minister Anurag Thakur announced.The total length of doubling of the Nimach-Ratlam railway line is 132.92 km. The project will be completed in four years.– The total estimated cost of the doubling Rajkot-Kanalus railway project will be Rs 1,080.58 crore. The total length of the doubling of line is 111.20 km. The project will be completed in four years.– Doubling of Nimach-Ratlam and Rajkot-Kanalus railway lines will benefit passengers as well as the entire industrial belt, Thakur said.The Cabinet also approved the listing of Export Credit Guarantee Corporation Ltd. (ECCG), an unlisted CPSE, on the stock exchange, Commerce Minister Piyush Goyal said.– He added that Rs 4,400 crore will be invested in ECGC Ltd in five years beginning from the financial year 2021-22 to provide support to exporters as well as banks.
– The proposed listing of ECGC would unlock the true value of the company, promote ‘people’s ownership’ by encouraging public participation in the equity holding of the company and also promote corporate governance through transparency and greater accountability, the government said in a statement.– Listing may enable ECGC to mobilise fresh capital from the market either through the same IPO or subsequently through a follow-on public offer (FPO) and thereby help in increasing the Maximum Liability cover for it.The Cabinet approved the continuation of the National Export Insurance Account (NEIA) scheme and announced an infusion of Rs 1,650 crore grant-in-aid over five years from FY 2021-2022 to FY 2025-2026, Goyal said.
