To fast-track bullet train Project Government has established Arvind Panagariya committee [ Current Affairs ]

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To fast track the Mumbai-Ahmedabad High-Speed Rail Corridor Union Government has established a committee. The main task of this committee is to interact with the Japanese counterpart for taking further steps in implementation of Mumbai-Ahmedabad High-Speed Rail Corridor.

Members of committee:

The head of the committee is Arvind Panagariya, and apart from him committee also includes following members:

  • Vice-chairman of the NITI Aayog.
  • Railway Board chairman,
  • foreign secretary and secretary (industrial policy) and
  • Secretary in the department of expenditure.

Mumbai-Ahmedabad High-Speed Rail Corridor:

  • Both the trains will be developed at the cost 98, 000 crore rupees and it will be 500km long.
  • Japan will invest 78, 000 crore rupees this is the largest foreign investment in railway sector of India.

Background

  • Union Cabinet had given its permission to bullet train project, and this project will be completed with the help of Japan for funds and technology.
  • Cabinet has approved this project on the recommendations of a committee headed by Panagariya which had preferred Japan rather than China due to the low-cost funding and commitment for technology transfer and local manufacturing for a specified period.

- Published on: January 13, 2016