The Union Cabinet has cleared a proposal to list state-owned Export Credit Guarantee Corporation (ECGC) Ltd through the Initial Public Offer (IPO), commerce minister Piyush Goyal said.Goyal said that ECGC could be listed on the stock exchange by next fiscal year.

The government will invest Rs 4,400 crore in ECGC for five years to provide support to exporters as well as banks. The move, Piyush Goyal said, will help create 59 lakh new jobs including 2.6 lakh in the formal sector.

The cabinet has also given its nod to infuse Rs. 1,650 crore in National Export Insurance Account scheme.

Further, the Cabinet paved way for doubling of Nimach-Ratlam railway line at a total estimated cost of Rs.1,095.88 crore and Rajkot-Kanalus railway line at a total estimated cost of Rs. 1,080.58 crore.

The Union Cabinet has cleared a proposal to list state-owned Export Credit Guarantee Corporation (ECGC) Ltd through the Initial Public Offer (IPO), commerce minister Piyush Goyal said.Goyal said that ECGC could be listed on the stock exchange by next fiscal year.

The government will invest Rs 4,400 crore in ECGC for five years to provide support to exporters as well as banks. The move, Piyush Goyal said, will help create 59 lakh new jobs including 2.6 lakh in the formal sector.

The cabinet has also given its nod to infuse Rs. 1,650 crore in National Export Insurance Account scheme.

Further, the Cabinet paved way for doubling of Nimach-Ratlam railway line at a total estimated cost of Rs.1,095.88 crore and Rajkot-Kanalus railway line at a total estimated cost of Rs. 1,080.58 crore.