Railways shifting the gears to introduce trains that run at speeds around 320 kmph, the railways have formed a new Special Purpose Vehicle (SPV) to implement the Mumbai-Ahmedabad High Speed Bullet Train project named the National High Speed Rail Corporation Limited.
Completion of the project aimed on time to avoid additional expenses of the project, a Joint Committee has been formed under the Vice-Chairman of NITI Aayog with the secretaries of the Department of Industrial Policy and Promotion (DIPP), Departments of Economic Affairs and Foreign Ministry as its members along with the Chairmanof Railway Board.
The project expected that it will take about seven years after the awarding of the contract for the project to be completed, 81 per cent of the funding for the project would come from the loan from Japan. It is a soft loan for 50 years at 0.1 per cent annual interest with 15 years’ moratorium period.
Shri Arvind Panagariya is Vice-Chairman Of Niti ayogh.
National Institution for Transforming India Aayog(NITI).
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