FM allocates ₹25000 crore for high-speed train project

Finance Minister Nirmala Sitharaman announced a rise in the budgetary allocation for the National High Speed Rail Corporation (NHSRCL) to ₹25,000 crore for FY'25, up from ₹18,592 crore in FY'23-24. Conversely, the allocation for the Dedicated Freight Corridor Corporation of India (DFCCIL) has been reduced to ₹4155 crore in fiscal 2024-25, down from ₹14,526 crore in FY '24.

Railways Minister Ashwini Vaishnaw stated that NHSRCL has completed 100 per cent land acquisition for the Mumbai-Ahmedabad Rail Corridor. The high-speed rail line, employing Japan's Shinkansen technology and funded by the Japan International Cooperation Agency (JICA) with a soft loan of ₹88,000 crore, aims to establish a high-frequency mass transportation system. Although the ₹1.10 lakh crore project faced land acquisition challenges, the government targets to commence the first phase between Surat and Bilimora in south Gujarat by 2026.