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.
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.