It’s an incredible news. I should feel happy about it. But I
am not. Unlike many who cheers the possible arrival of bullet trains in ‘Mumbai
– Ahmadabad’ route, I am a bit worried. Well, I have my own reasons. I am a big
fan of science and technology and feel proud about every advancement of human
society. So I should be happy right?
What worries me about the project is its price tag – 98,000
crores. Considering cost and schedule overrun (which is a norm in GoI projects),
by the time it completes the cost may over 1.1 Lakh crore. I don’t believe
Indian Railway(IR) is investing this much amount of money for laying new tracks
or doubling the existing ones in a year. And let me inform you that, we are
going to get only 500km track for this mind blowing number. Of course it’s a
bullet track.
80% of this project is funded through JICA (Japan
International Co-op Agency) for just 1% interest. In addition to that, Japanese
are ready to share the technology know-how. This loan is with coming with a 50-year
long tenure (there is a moratorium of 15 years as well). Well, this project
might be announced during the coming visit of Japanese Prime Minister Mr. Abe
to India.
Getting a bullet train is indeed a great thing. But, does
Indian Railway have enough funds to expand its normal track network to cater
the ever increasing needs for passenger and freight? Does Railways have money
to invest in the upgradation of its signal and safety systems? I hope that
government will aggressively fund Indian Railway’s not so glamorous projects as
well. Hope that this bullet train will not end up as a bullet in the heart of
IR’s investment plans.
Sajeev
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