No separate budget for Railways from next year
Posted on: 13/Aug/2016 12:14:10 PM
Central Government has decided not to have a separate railway budget from next financial year. Railway’s budget will be merged with general budget.
Separate Railway budget was tabled from the year 1924. After 97 years, this is coming to an end. The Finance Ministry has constituted a five-member committee of officers to work out the modalities for the exercise.
The panel had recommended that the British-era legacy of having a separate Rail Budget should be phased out and it should be merged with General Budget.
Once the Rail Budget is merged with the General Budget, the Indian Railways will be like any other government department that receives budgetary support from the Finance Ministry.
Railways Minister Suresh Prabhu had told the Rajya Sabha that the Rail Budget should be merged with the General Budget for the long term interest of national transporter as well as the country`s economy.
