The project that was submitted to the railway board said that Rs 50,000 crore will be utilised for laying rail tracks and other infrastructure.
Reports reveal that the the train is capable of running at a speed of 350 km per hour which would reduce the time of of travel between Ahmedabad, Mumbai and Pune.
Officials also said that after the project report is dealt with the Maharashtra and Gujarat governments, they will work out fund sharing between themselves.
A study conducted by French rail transport company said that the travel time between Ahmedabad to Mumbai will reduce to two hours without any stops, while Mumbai to Pune will be around 40 minutes.
A study revealed that at least 26.6 million passengers will chose to travel by bullet train every year by 2021.