Bullet train project: Another hurdle? Finance Ministry asks Indian Railways to borrow funds from market


Bullet train project: Another hurdle? Finance Ministry asks Indian Railways to borrow funds from market

Bullet train project hurdles continue? For PM Narendra Modi’s ambitious Mumbai-Ahmedabad bullet train project, Indian Railways has been asked by the Finance Ministry to borrow funds from the market.

Additionally, the Finance Ministry has also asked the national transporter not to expect the requisite funds as additional Gross Budgetary Support from the Budget, according to an IE report.

This year, around Rs 10,000 crore are required by the National High-Speed Rail Corporation (NHSRCL) for land acquisition, part of Indian government’s commitment towards the Rs 1.08 lakh crore mega project.  Also, for the Dedicated Freight Corridor project, there is a commitment of around Rs 5,000 crore.  Read More

 

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