Railway Budget to be merged with General Budget from 2017
-92-year-old practice of presenting a separate Railway Budget is set to come to an end from the next fiscal, with the Finance Ministry accepting Railway Minister Suresh Prabhu’s proposal to merge it with the General Budget.
-If the merger happens, Indian Railway will get rid of the annual dividend it has to pay for gross budgetary support from the government every year.
-With the merger, the issue of raising passenger fares, an unpopular decision, will be the Finance Minister’s call.
Facts.
-The "Acworth Report" led to reorganization of railways, the railway finances of India were separated from the government finances in 1924.
-First Railway budget was presented in the year 1924.
-92-year-old practice of presenting a separate Railway Budget is set to come to an end from the next fiscal, with the Finance Ministry accepting Railway Minister Suresh Prabhu’s proposal to merge it with the General Budget.
-If the merger happens, Indian Railway will get rid of the annual dividend it has to pay for gross budgetary support from the government every year.
-With the merger, the issue of raising passenger fares, an unpopular decision, will be the Finance Minister’s call.
Facts.
-The "Acworth Report" led to reorganization of railways, the railway finances of India were separated from the government finances in 1924.
-First Railway budget was presented in the year 1924.
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