In order to realise Prime Minister Narendra Modi’s ambitious Rs 1,10,000-crore bullet train project, a loan of Rs 88,000 crore will be taken from Japan. The funds will be given at a very low rate of interest of 0.1 pe cent per annum by Japan International Cooperation Agency (JICA). This loan has to be repaid to Japan in 50 years, with 15 years grace period.
Chavan, however, said that land acquisition costs are not considered in these figures.
“The state government will have to spend for it (land acquisition) from its treasury. Hence,...
more... the land acquisition costs in the Karad-Chiplun railway line project are going to be diverted to the bullet train project,”