The proposed Bullet Train project between Mumbai and Ahmedabad is the dream project of Prime Minister Narendra Modi. The project was announced in the last budget by the central government but there is no much movement on the issue from that since then.
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It is said that center is planning to utilize the services of Japan for this mega project. Japan is famous for its ingenious technology that runs Bullet trains very easily. Japan will also fund this biggest and costliest railway project in Independent India.
Japan is likely to agree to finance the Rs 90,000 crore-plus railway project through a soft loan at 0.5% interest with a repayment tenure of 50 years. A deal regarding this is likely to be inked between India and Japan during Japan Prime Minister, Shinzo Abe’s visit to India next week.
