Looking to cut down diesel prices by electrification of railways: Piyush Goyal

Union Railways Minister Piyush Goyal on Thursday said that the ministry is looking at ways to cut down the expenses on diesel by speeding up the electrification process,

Goyal said, "The railways ministry is looking at ways to speed up the electrification process as it would help cut down Rs. 16,000 crore expense on diesel."

He added that the ministry is consulting people, who are involved in the electrification process.

He also stressed on the availability of equipment and adequate infrastructure for the electrification of railways.

Goyal further took a jibe at the former United Progressive Alliance (UPA) government and said that the poor work done by the previous government had impacted the railways.

"Before the BJP-led government came to power, investments on safety related things, track renewal and maintenance were not good and it had impacted the railways," he said.

When asked about the investments, he said that funds were tied up from the LIC, adding, "You will see large draw downs in the next few days.