Apart from the Centre’s contribution of Rs. 5,600 crores to the revolutionary bullet train project, the Maharastra and Gujarat governments have also agreed to fuse in a total of Rs. 5,000 crores into the project. Maharashtra Chief Minister Uddhav Thackeray linking the project to a “white elephant”, said that the decision will be taken after he is convinced it will boost industrial development of the state.
Prime Minister Narendra Modi had announced that he wants to complete the revolutionary project by 2022, to mark the 75th year of Independence. The decision comes days after Finance Minister Nirmala Sitharaman’s budget speech where she mentioned that high-speed train between Mumbai and Ahmedabad would be “actively pursued”.
The foundation stone of the bullet train project was laid by Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe on September 14, 2017. The project’s estimated cost is ₹1.08 lakh crore.
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