The Cabinet Committee on Economic Affairs on Wednesday approved the contribution of grant-in-aid of Rs 1,040 crore to the National Export Insurance Account Trust (NEIA).
The corpus is to be utilised during three years from 2017-18 to 2019-20, an official statement said here.
An amount of Rs 440 crore has already been received for the year 2017-18. Around Rs.300 crore each will be given to NEIA for the years 2018-19 and 2019-20.
The corpus would strengthen NEIA to support project exports from the country that are of strategic and national importance, the statement added.
--IANS
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