iasparliament
September 12, 2017
2 months
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Why in news?

Mumbai-Ahmedabad High Speed Rail (MAHSR), an Ind0-Japan collaborative project to be inaugurated shortly at Ahmedabad.

What are the significance of this bullet train initiative?

  • Investments -Japan will provide a soft loan of about Rs 90,000 crore at a minuscule interest rate of 0.1 per cent over 50 years.
  • More than 80 per cent of the project cost is being funded by the government of Japan.
  • The repayment of the loan is to begin after 15 years of receiving the loan.
  • Manufacturing -The MAHSR project has a twin objective of “localised manufacture” and “transfer of technology”.
  • Employment -This project is likely to generate employment for about 20,000 workers, who will then be equipped to take up construction of more such projects in India.
  • The new areas where construction skills would be developed are ballast-less track, under sea tunnelling
  • Capacity building -A dedicated High Speed Rail Training Institute is being developed at Vadodara, will be fully equipped with Japanese equipment and facilities.
  • This institute will be functional by the end of 2020, and train about 4,000 staff in the next three years, who will then be utilised for operation and maintenance.
  • Faster Connectivity -A “rapid train” service with only two stops at Surat and Vadodara and a slower service that halts at 10 stations en route.
  • The “rapid train” would complete the journey in 2 hours and 7 minutes, while the slower service would take 2 hours and 58 minutes.
  • High-end technology -The project is set to provide reliable and comfortable service with high standards of safety.
  • The technology regarding disaster predictions and preventions will also be acquired as part of the project.

 

Source: Indian Express

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Saravanakumar 2 months

What is Soft funding?

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