I fully agree with your concerns about improving safety standards all across IR, sir. But it is not clear as to how postponing the High Speed rail project is going to help improve track standards in other places.
The loan being provided by Japan cannot be diverted towards the general improvement of IR as the loan was given solely for the HSR. And postponement will only make these costs escalate further. Either we take the loan and the technology and build a HSR, or we don't get anything.
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And neither IR nor IR's staff will directly involved in the operations and management of the proposed route, which will be handled and operated by the NHSRC. So, it's not like IR is diverting it's (already insufficient) resources towards the HSR project. The sad state of our network is due to the negligence of our authorities. Unless this attitude is changed, postponing the HSR won't make any difference.
And the HSR is not just a futuristic science project. Much like our Space program, there will be lot of spin-offs that provide a lot of benefits. For starters, it opens up a lot of employment opportunities. In addition the technologies developed for the HSR will greatly help us in improving track and rolling stock design and maintenance over our regular network as well.
It is too early to predict if the HSR will be operationally profitable, but it is surely a good thing to go for when we are getting the necessary support from other countries. At the moment, there's nothing to lose.

Bhai tab to LHB bhi nahi aana chahiye thha 2003 mein. Us samay bhi humara fiscal deficit jyada thha aur railway ki haalat khasta thhi. Maintainance ki jarurat us time bhi thhi par humne LHB mein invest kiya taki aage chalkar railways mein kuch sudhaar aaye. Aur aj wohi ho raha hai. Sabhi chahte hain ki unke area ki train ko LHB mile kyonki LHB ka safar jyada comfortable hai aur comparatively surakshit bhi hai. Socho agar us time LHB mein invest nahi karte to aj kya hota? LHB ka safar shuru hua 1995 mein lekin pehli train mein chali 2003 mein. Matlab 8 saal to sirf LHB-LHB japne mein hi lag gaye.
Agar hum aise hi dekhte reh gaye...
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ki jab tak hum ek jarurat ko puri nahi kar lenge tab tak doosra start nahi karenge tab to ho gaya is desh ka kalyan. Humare desh ki literacy rate aaj 73 ke aas- paas hai to kya hum scientific research aur space technology mein ye keh kar investment kerna chhod de ki nahi jub tak sabhi literate nahi ho jaate tab tak koi research, koi mangalyaan, koi chandrayaan, koi pokharan nahi hoga kyonki literacy atyant aavashyak hai. Dono cheez jaruri hai aur dono ke liye alag -alag budget aur organization hai. Usi prakar is desh ke liye agar IR jaruri hai to bullet trains bhi. Aaj roads par bhi bahut gaddhe hain jisse kaafi accidents hote hain, to kya hum ye keh kar expressway or 4-6 lane highway banana band kar de ki nahi jab tak saare gaddhe bhare nahi jaate koi expressway nahi banega. Isi tarah chalta raha to India jo rajiv gandhi ke baad aage badhna chalu hua wo 50 saal baad waapis nehru ji ke time mein pahuch jayega.