Bullet Train in INDIA

Quite recently India led the foundation stone for one of its most sought after project  -- running a bullet train ?. It was very well considered as a dream project of the honourable Prime Minister, Narendra Modi . Entire India felt proud of having its first over bullet train schedule to run between Mumbai and Ahmedabad,  a distance of 508 km, in just 2 hour 35 minutes .

According to Alchal Khare, the managing director of the National High Speed  Rail corporation, the project would be completed by December 2023.

It all began with the Prime Minister's ambitious dream of having high speed train in India that cuts the travel time and yet remains an economical option to go frome one place to another in short time. The technology of this High Speed Rail, also known as HSR, was influenced by Japan, which runs a network of bullet trains in their country on Shikasen technology, making many cities well connected to others. According to reports, Prime Minister Shinzo Abe offered to provide US$ 12 billion of soaft loans to build India's first Bullet Train  the loan was offered at a intereste rate of 0.1% per year with repayment over 50 years and a moratorium for the first 15 years. The Japanese Government will be bearing 80 % of the total project cost whereas the increase in cost estimate has to be borne by both India and Japan. 

1. The reason this deal between India and Japan is considered path -breaking is that there is currently no financial institution in India that could provide such a huge funding to be repaid over as time as 50 years.