New Delhi: The Union Cabinet on Wednesday (September 29) approved the doubling of two important railway lines at a total estimated cost of Rs 2175 crore. These two railway lines are Neemuch-Ratlam and Rajkot-Kanalus.
The government will spend around Rs 1,095.88 crore for the doubling of the Neemuch-Ratlam railway line, while the cost of extension of the Rajkot-Kanalus railway line is expected to be around Rs 1,080.58 crore.
Union Minister Anurag Thakur took to Twitter to announce the cabinet decision. “The Union Cabinet has approved doubling of Neemuch-Ratlam railway line at an estimated cost of Rs 1,095.88 crore and Rajkot-Kanalus railway line at an estimated cost of Rs 1,080.58 crore,” he said in a tweet.
Soon after the announcement, the Railway Ministry said that the doubling of railway lines would speed up train movement, allowing more goods and passenger trains to run. All this will give a boost to the economy, the ministry said.
At present, the Rajkot-Kanalus section is 111 km while the Neemuch-Ratlam section is 133 km long. The ministry also said that the expansion will boost the growth of the sector as well as generate direct employment. Read also: Samsung Galaxy F42 5G Launched in India Ahead of Flipkart Big Billion Days: Price, Features, Launch Offers
Apart from the expansion of two railway lines, the cabinet has also approved an investment of Rs 4,400 crore in Export Credit Guarantee Corporation (ECGC). The fund will be invested in the state-owned organization over a period of five years starting from 2021-22. Meanwhile, the central government has also approved the public market listing of ECGC through an initial public offering. Read also: Not getting subsidy on LPG? Do this work today, money will be deposited in your account immediately
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