Railway Budget Bullet Train: What Rail Budget 2018 says about Modi’s pet project

By: | Updated: February 2, 2018 10:44 AM

Bullet trains is Modi's one of the major projects and India’s first bullet train was announced by Modi which will run between Mumbai and Ahmedabad, connecting the two business hubs of the nation. The Mumbai- Ahmedabad bullet train project was launched by Narendra Modi in September 2017.

Budget 2018: Budget for bullet trainsBudget 2018: Bullet trains is Modi’s one of the major projects and India’s first bullet train was announced by Modi which will run between Mumbai and Ahmedabad.

The Union budget 2018 day is finally here. Indian Railways which is one of the most crucial part of the Union budget was waiting for this day. As this is the second time since Modi government removed the system of presenting Railway budget and general budget seperately, everyone was waiting to see what the Union Budget 2018 has to offer on Railways front. Under Narendra Modi’s power, Suresh Prabhu is the last Railway minister to present the separate Railway budget in the Parliament. Last year, finance minister Arun Jaitley was the first one to present the unified Union Budget 2018 in the parliament. Bullet trains is Modi’s one of the major projects and India’s first bullet train was announced by Modi which will run between Mumbai and Ahmedabad, connecting the two business hubs of the nation.

Arun Jaitley in his Union Budget 2018 speech said that for Modi government developing infrastructure including Indian Railways is a major priority. Finance minister in his Budget speech 2018 mentioned about passenger safety, electrification and modern signalling of Railways, installation of Wifi and CCTV cameras, removal of unmanned railway crossings and also providing other state-of-the-art passenger amenities. On Bullet trains, Arun Jaitley said that the foundation stone of the bullet train has already been laid by the government of India in September 2017. Also, an institute will be set up in Vadodara, Gujarat to train manpower for high speed rail projects. With this, there is a clear indication that the Modi government has plans to introduce more number of bullet trains in near future.

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The Mumbai- Ahmedabad bullet train project was launched by Prime Minister Narendra Modi in September 2017. The bullet train project is an ambitious product under Narendra Modi’s ‘Make in India’ initiative. The bullet train is first likely to run on August 15, 2022 and for this project, land acquisition has already been started by the Modi government.

Know how Arun Jaitley’s Budget 2018 will impact your tax liability with this Income Tax Calculator

In September, last year Narendra Modi and Japanese Prime Minister, Shinzo Abe jointly led the foundation stone for the ambitious project. Financial and technical assistance will be provided by Japan, which is expected to cost about Rs 1.08 lakh crore.

National High Speed Rail Corporation (NHSRC), which is a Special Purpose Vehicle (SPV) has been set up for the Mumbai- Ahmedabad connecting Bullet train project. The Modi government has also arranged a three-tier system in order to manage the bullet train project. Earlier, it has been also announced that the vice-chairman of Niti Aayog and a special advisor to Japan’s Prime Minister, Shinzo Abe would together be responsible for the overall development of the Bullet train project.

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