Page 118 - LECTURETTE TOPICS eBOOK

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amenities have been incorporated in the business class to match international
standards.

This project is being built with the help of Japan. Currently India does not have the
indigenous high speed rail technology that is required to build this project. Japan is
providing this technology to India.

The running of bullet train in India has a lot advantages. With increasing traffic, an
alternate mode of transport will reduce the crowd on the roads, hence reducing
traffic. Bullet trains will considerably reduce travel time. Less time taken to travel will
boost business. People will not have to migrate to larger cities as the time taken to
travel will be considerably manageable, thus reducing migration from smaller cities
to larger cities. Bullet trains are much safer as compared to the normal trains and
hence safety which is a major concern when it comes to Indian railways is also
addressed. The Japanese Shinkansen trains, which are bullet trains in Japan,
started running in 1964. Since then there have zero cases of fatalities. The project
will be earthquake and fire resistant. Sensors will be installed for motion detection.
Running of bullet train helps in infrastructure development, thereby creating huge
employment opportunities and leading to economic growth.

The bullet train project is an expensive affair and is estimated to cost around one
lakh crore rupees. The cost may increase due to future fluctuations and inflation.
The project is 81% financed by Japan at an interest rate of 0.01% for 50 years. These
numbers may look considerably low, but the Japanese Yen is projected to appreciate
over a period of time in comparison to the Indian rupee, which might question the
viability of the loan. It is also estimated that in order to make this project economically
viable, the fares may range anywhere between Rs4000- Rs7000. These fares can
easily be compared to air fares and can be afforded only by the rich class. This again
raises the question if this project be of any benefit to the middle and lower economic
sections of the society.

There have been arguments against the bullet train project since the condition of the
Indian Railway System needs attention. Some are of the view that there is a greater
need of investment in the current railway infrastructure in order to improve and

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