The reality of a bullet train…Japan will offer more than 1 trillion yen ($8.11 billion) in loans to construct India’s Rs 98,000 crore fast train, according to the report.., the multiplier effect on the economy will be stupendous.. generation of employment & increase in GDP with India joining the comity of developed nations!
This project could be one of the catalysts in transforming India. India has already experienced success in major projects in the past, which includes building the Golden Quadrilateral and upgrading its national highways, which has added to GDP, created efficiencies in transportation, provided jobs and improved rural development through enhanced connectivity.
The 172.5-km Metro network across Mumbai worth Rs 80,000 crore has been in the pipeline for several decades. Officials believe that the soft loan from the Japanese government would help fast-track the project to provide a better and faster mode of transport for Mumbaikars. The developments would also help expedite the 21.8-km stretch of the MTHL aimed at decongesting the city and connecting the island city of Mumbai and Navi Mumbai through Sewri-Nhava Sheva.
The high speed train, with 10 cars and capacity to accommodate 750 people, is expected to reduce travel time between the two cities from seven to three hours. Later, the train will have 16 cars which will accommodate 1,200 people.
Around Rs 1.10 lakh crore will be spent on the project of which Rs 88,000 crore will be funded by a soft loan from Japan. The completion deadline of December 2023 may be brought forward to August 2022 when the country celebrates 75 years of independence.
