Railway budget merges with Union Budget
Posted on: 22/Sep/2016 12:54:58 PM
Ending a 92-year-old tradition and easing the way for the government to cut populist subsidies and push through structural reforms, the Central Government will be merging the Railway Budget with the annual union budget from the next fiscal year.
Railway minister Suresh Prabhu, who was present at the media briefing, said that the merger of Rail and General Budget will not impact the functional autonomy of the Indian Railways but, instead, help in enhancing capital expenditure.
The actual date for presentation of the general budget for 2017-18 will be decided by the government after taking into account the ensuing assembly elections, Finance Minister Arun Jaitley said while briefing the media about the Cabinet decisions.
As per tradition, the Budget is presented on the last working day of February. A separate railway budget was started by the British in 1924.
