The Bullet Train project highlights:-
- Highlight of Japanese PM Shinzo Abe’s visit is Rs 98,000-crore bullet train project
- Project will take two-and-a-half years to plan, eight years to complete
- Railways says Mumbai-Ahmedabad bullet train fare will be around Rs 6/km
- At 300-350 kmph, Mumbai-Ahmedabad will take less than two hours to cover
- Six proposed high-speed rail routes will bring down the cost of living and lead to economic development
- India cannot depend on air travel alone for reasons of energy efficiency and climate change
An agreement on the Rs 98,000-crore bullet train between Mumbai and Ahmedabad is the highlight of Japanese Prime Minister Shinzo Abe’s visit to India. The project will be financed with a 50-year yen loan at 0.1 percent, which includes a moratorium on interest payments for the first 20 years.
Railway Minister Suresh Prabhu’s aides say the train will be viable with rates that are one-and-a-half times the current AC first class fares, or nearly Rs 3,000. That is Rs 6 per km.
Viability will depend on traffic and the frequency of service. Rail officials say there is enough between the two cities: trains are chockfull and flights are packed. At 300-350 kmph, the distance should be licked in less than two hours. This will create additional demand. With quick visits possible, more people will travel. Earners might persuade their families to relocate outside expensive and congested Mumbai.