Japan stops cash for bullet train after project stalled over land row
The protest against land acquisition for the Ahmedabad-Mumbai bullet train project has become a huge roadblock for the cash flow from Japan.
The latest installment that funding agency Japan International Cooperation Agency (JICA) was supposed to release for last quarter, did not reach, said sources from Gujarat government. The JICA stopped the payment on the grounds that the project did not show any progress due to several disputes.
A senior state official, said on condition of anonymity, "As issues over acquisition of land for the bullet train project surfaced in Gujarat as well as in Maharashtra, no progress could be made. The agreements for payment of installment is conditional and the funds arrive from JICA if the progress is constant. The first installment of Rs 125 crore was sanctioned when the Japanese PM visited Gujarat in last September."
"The state government has been trying hard to expedite the land acquisition by talking to farmers. The next installment of fund will not arrive unless the progress is achieved," said the official.
The JICA has agreed to provide nearly Rs. 80,000 crore for the High Speed Rail Project (HSRP) estimated at 1 lakh crore.
The amount to be provided by the Japanese body to India will be given in installments as a soft loan for 15 years. The fund will come in installments.
While the rest of Rs. 20,000 crore will be paid by Gujarat and Maharashtra state government jointly and that too in installments. The special purpose vehicle (SPV) for the project was formed with the equity of Rs. 500 crore in last September only.
The chief secretary of Gujarat Dr JN Singh coordinates with different partner agencies in the project on behalf of Gujarat government. Talking on the issue, Singh said, "The Gujarat government is hardly aware of any development of cash flow from JICA for the project as it is not our purview. If that has happen in any case, the installment will come in future anytime as it comes viz a viz project implementation."
The revenue minister Kaushik Patel said that the Gujarat government was seriously making effort for land acquisition and CM has asked the government to ensure that no farmer should be meted with injustice in due process.
Courtesy: www.dnaindia.com
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US Election Results 2024: Donald Trump claims election victory, says God spared my life for a reason
Washington DC: Republican Presidential candidate Donald Trump is on the verge of a landslide victory in the 2024 US election, as he leads with 267 electoral college votes, just three short of the required 270 to secure the presidency. In a triumphant speech, the 78-year-old thanked his supporters, calling the win a "magnificent victory for the American people."
Trump, who survived an assassination attempt earlier this year, remarked, "God spared my life for a reason," attributing his survival to this political moment. He described the Republican campaign as the "greatest political movement of all time," vowing to "help the country heal" and address key issues like border security.
Kamala Harris, the incumbent Vice President and Trump’s main opponent, currently trails with 214 electoral votes. Trump's victory has been bolstered by Republican success in battleground states, flipping seven swing states that had largely supported Democrats in 2020. So far, Trump has secured Georgia, Pennsylvania, and North Carolina, while leading in Arizona, Wisconsin, Michigan, and Nevada.
In addition to the presidency, Republicans are also on course to secure control of the Senate and are leading in the race for the House of Representatives, further cementing the party's dominance in the US political landscape.
Trump concluded his speech by thanking his running mate JD Vance, his family, and high-profile supporters like Elon Musk for their backing during the challenging campaign.
