The Mumbai-Ahmedabad high-speed rail project that was launched in Ahmedabad by prime minister Narendra Modi and Japanese prime
minister Shinzo Abe, has the potential of creating 20,000 direct and indirect
employment opportunities, according to a report by State Bank of India’s
research team.
After the commissioning of the project, direct
employment of 4,000 employees will be created for the operation and
maintenance. Further the project is likely to generate about 16,000 indirect
employment opportunities.
“In addition, the introduction of the
high-speed train in India will definitely bring the new opportunity for jobs and skill for young Indians, meeting the
aspirations of skill India.” Said S K Ghosh, group chief economic advisor,
State Bank of India
The state of the art railway project that is
being implemented is estimated to cost of Rs 88,000 crore. Notably, the project
is being funded at an extra nominal cost
of only 0.1% (comparable rates are of 5%
-7%) with a much larger repayment period.
Prime Minister Narendra Modi and his Japanese
counterpart laid the foundation stone of the Mumbai-Ahmedabad High-Speed Rail (MAHSR) project in Ahmedabad. Besides job
creation, the project is expected to bring skills in the field of ballastless
track construction, installation of communications and signalling equipment,
power distribution system. Modern and world-class
practices will be adopted for maintenance of the railway system, which is
expected to bring a paradigm shift the
maintenance practices currently being followed in Indian Railways.
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