New Delhi, Sep 14 (IANS): The Congress party on Thursday questioned the economic viability of the Ahmedabad-Mumbai bullet train project, for which the foundation stone was laid by Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe.

Congress leader in Lok Sabha Mallikarjun Kharge said his party was not against any development project, but added that the Ahmedabad-Mumbai bullet train project was not economically viable.

"We are not against any project, but what is the aim? This project is not economically viable," Kharge said.

"The air fare between Mumbai and Ahmedabad is Rs 2,000, and the bullet train fare would be between Rs 2,800 to Rs 5,000... Only if one lakh passengers travel in the train the project will be economically viable," said Kharge.

He added that Rs 60,000 crore was being spent on land acquisition, and the cost of the project which has been pitched at Rs 1,10,000 crore may further escalate during implementation.

Modi and Abe on Thursday launched the ambitious Rs 1.08 lakh crore ($17 billion) project for the 508-km Ahmedabad-Mumbai High Speed Rail.