The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the proposal for electrification of Indian Railways by 2021-2022.
According to the government, the complete electrification of India Railways will make a major impact on the capacity and speed, railway safety and fuel bill of the railway. Also, the national carrier will save Rs 13,510 cr PA in fuel bill.
The cabinet has approved electrification of 108 sections of Indian Railways covering 13,675 route kilometres of railway tracks at a cost of Rs 12,134.50 crores.
The railway electrification project will reduce greenhouse emission as the electrification will save 2.83 million litres of high-speed diesel every year which will ultimately improve the carbon footprint of railways.
"The Prime Minister is aiming to make the Indian Railways more profitable and reduce the cost burden on the passengers for which we have decided electrification of remaining un-electrified broad gauge routes," Union Railways Minister Piyush Goyal said.
Goyal also said that Indian Railways is the only one which has attempted to electrify the network. And, the amount of money that will be saved is around Rs 13,000-14,000 crore.
Goyal added that the electrification project will save foreign exchange and have a big impact on the economy of this country.
He also said that the Indian Railways have a huge responsibility towards climate change and such projects will help in reducing pollution in this country.
The electrification would also help in improving the line traction, Goyal said.
(with inputs from IANS)