A source from the government echoed his view and said that Japan, which is giving soft loans for the project, is increasing its funding for the project to $5 billion per year from the earlier commitment of $3 billion.
Tag: HSR
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Government to add more high speed rail network in the future: Rail Minister
Even as political opposition continues for the bullet train project from states like Maharashtra and Gujarat, Union Railways Minister Piyush Goyal remains optimistic and does not see "any stress" in getting the land for the ambitious high speed rail (HSR) project, primarily on the increased compensation that the Government is offering.
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Traction Ahead!
The Railways has sizeable capex plans for the five year period 2015-19 involving a capital outlay of Rs.8.56 trillion. The annual capital outlay for FY2016-18 was increased significantly to meet the five-year targets. NITI Aayog has also finalised the three year action agenda (2018-20).
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The future in India seems challenging, yet promising
Firstly, while the global market remains volatile and has an impact on the Indian economy, India is expected to retain a growth rate of 7.3 per cent for FY 2015-16, as per the International Monetary Fund (IMF).
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Japanising Indian Rail
Taking precedence from Japan which heralded the ´bullet train´ legacy in 1964, the world began to partake of this ´race against time´. High-speed rail (HSR), which uses an integrated system of specialised rolling stock and dedicated tracks, can significantly enhance the connectivity and trade between major cities in a country.