Mumbai: The Union government has allotted Rs 5,600 crore for the ambitious Mumbai-Ahmedabad bullet train project for fiscal 2020-21. Prime Minister Narendra Modi wants to complete the project by 2022, to mark the 75th year of Independence.
- A provision of Rs 5,600 crore has been made for the 500-km rail project, sources in the National High-Speed Rail Corporation (NHSRCL) said.
- The Western Railway’s “Pink Book” said, apart from the Centre’s contribution, there is also a move to get Rs 5,000 crore from Maharashtra and Gujarat, which own a fourth of equity in the project, in the form of extra budgetary resources (EBR).
- It can be noted that in FY20, the two states collectively contributed Rs 1,000 crore in EBR towards the project.
- The Japan International Cooperation Agency (JICA) has made a soft loan commitment of Rs 1.10 lakh crore to execute the project.
- The Union government-controlled Indian Railways has a 50% equity stake in the project.
- In her budget speech last Saturday, Union Finance Minister Nirmala Sitharaman highlighted that the high-speed train between Mumbai and Ahmedabad would be “actively pursued”.
- The project was launched by Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe in September 2018.
- Currently, trains in India run at a maximum speed of 180 kmph, and the introduction of the bullet train is expected to mark India’s shift to an era of high-speed trains capable of hitting speeds of up to 350 kmph.
- The bullet train will have 12 stations across its 508.17 km stretch — 155.76 km will be in Maharashtra, 348.04 km in Gujarat and 4.3 km in Dadra and Nagar Haveli.