The Union Cabinet on Wednesday approved the setting up of a committee to propose to the Exim Bank a scheme to offer concessional finance to companies bidding for infrastructure projects abroad.
The scheme would help companies like Punj Lloyd who have a large portfolio of infrastructure companies in other countries.
Meanwhile, the Cabinet Committee on Economic Affairs approved the doubling for the 284-km Hotgi-Kudgi-Gadag railway line which goes from near Solapur in Maharashtra to northern part of Karnataka.
The doubling will cost ₹ 2,058 crore and would help the power, steel and cement plants coming up along the route.