To fast-track bullet train Project Government has established Arvind Panagariya committee [ Current News (Concise) - Committees ]
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.
- 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