Suresh Prabhu, the Union Minister of Railways, yesterday revealed a statement that for the next 10 years they will save up to Rs 41,000 crore on spent on Indian Railways and the mission is called ‘Mission 41K’.
The unveiling of this program was started at a Roundtable Conversation on Energy Initiatives of Indian Railways with the external investors, which were headed by Suresh Prabhu, who is an Indian politician and present railway minister.
Other organizations that were also a part of the meeting were Suzlon Energy Ltd, Indian Oil Corporation, Reliance Power, TERI, Adani Power and CII. PTI JC KUN
He further added that this target can only be reached only if the whole traffic was moved from diesel to electric traction. As of now, 50 percent of the total rail traffic was using electric traction.
A K Mittal, the Chairman of Railway Board gave an official statement that only if the electrification pace is doubled the goal can be easily achieved and that’s what the ministry is planning for. Railways are also planning to acquire electricity for cheaper rates so that they can save the expense of energy as much as possible. They planned to get it from the open market rather than getting it from DISCOMs.
To bring down the consumption of electricity, new methods and technologies are also being discovered. For the period of 2016-2017 from the budget, which was allocated to the railways, they have set a goal of generating solar power of 1000 MW and wind energy of 200 MW.
During the year 2014-2015, electric energy, which was consumed by the Railways for their traction and non-traction application, was more than 18.25 billion units. For this, they have paid Rs. 12,635 crores and in the same year, they have paid Rs. 18,586 for diesel traction.