Railway Minister Piyush Goyal said, “The project will integrate the Indian Railways to global transportation technology.”
He added that it is unfortunate that the Indian Railways have not graduated from the colonial-era technologies.
The railway minister further added that exposure to the high speed technology will enable rail engineers to modernise systems and practices.
Giyal further added that the project funding is being made by Japan International Cooperation Agency (JICA) at a interest rate of 0.1% per annum.
“The project create 15 lakh job openings,” the minister said.
Goyal added that the passenger fares of the premium train will be lower than the air fares between the two cities.
Chairman of Railway Board Ashwani Lohani said, “The bullet train will come to India almost for free.”