Centre approves Rs1,040 crore to National Export Insurance Account Trust
The Centre has approved contribution of Grant-in-Aid (Corpus) of Rs1,040 crore to National Export Insurance Account Trust (NEIA). The decision was taken at the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi.
The Corpus is to be utilised during three years from 2017-18 to 2019-20. An amount of Rs 440 crore has already been received for the year 2017-18. An amount of Rs 300 crore each will be given to NEIA for 2018-19 and 2019-20.
The Corpus would help in strengthening NEIA to support project exports from the country that are of strategic and national importance.