Cabinet approves doubling of Nimach-Ratlam, Rajkot-Kanalus lines worth Rs 2,175 crores
29 Sep 2021 17:04:42
New Delhi, September 29: The Union Cabinet approved the doubling of two important railway lines at a total approximate cost of Rs. 2175 crores, on Wednesday. These two railway lines are Nimach-Ratlam and Rajkot-Kanalus.
The Cabinet also approved continuation of National Export Insurance Account / NEIA scheme and infusion of Rs. 1,650 crores Grant-in-Aid over 5 years.
The government will be spending close to Rs. 1,095.88 crores for the doubling of the Nimach-Ratlam railway line while the cost for the Rajkot-Kanalus railway line will be around Rs. 1,080.58 crores.
The Ministry of Railways said that, doubling of 111 km Rajkot-Kanalus section and 133 km Nimach - Ratlam section will make the train movement faster, and more goods and passenger trains will be a part of it, and will also boost the economy. The doubling of Nimach - Ratlam section will be generating direct employment too, and aid in growth of the area.
Meanwhile, the Cabinet also approved capital infusion of ₹4,400 crores in Export Credit Guarantee Corporation / ECGC. The Centre will give Rs. 4,400 crores in ECGC over a period of 5 years beginning 2021-22, said Union Commerce Minister Piyush Goyal. He also said that Rs. 500 crores infusion will be done right away.
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He also said that exports have totalled Rs. 185 billion till September 21, 2021 in the current FY.
The Cabinet also approved continuation of National Export Insurance Account / NEIA scheme and infusion of Rs. 1,650 crores Grant-in-Aid over 5 years.