Union Finance Minister Arun Jaitley approved the proposal moved by Railway Minister Suresh Prabhu. From next year, Railway Budget will be presented in the Parliament along with General Budget. This development ends the 92-Year-Old practice of presenting Railway Budget and Union Budget in a separate manner.
Finance Ministry has constituted a 5-member committee to work on the merger of Railway Budget & General Budget. The panel will submit its report by August 31st.
Suresh Prabhu claims Merger will be in the best interest of Nation & Indian Railways.
Railway Department believes Merger is part of PM Narendra Modi Government's reforms. If this happens, Finance Ministry will take a call on raise in passenger fares instead of Railway Ministry. This should also be seen as a move to end the practice of annual dividend payment to government on yearly basis for gross budgetary support.
Another key issue: Railway Ministers offered favors to the constituencies represented by them during their term. This can't be done once if Merger happens.
Finance Ministry has constituted a 5-member committee to work on the merger of Railway Budget & General Budget. The panel will submit its report by August 31st.
Suresh Prabhu claims Merger will be in the best interest of Nation & Indian Railways.
Railway Department believes Merger is part of PM Narendra Modi Government's reforms. If this happens, Finance Ministry will take a call on raise in passenger fares instead of Railway Ministry. This should also be seen as a move to end the practice of annual dividend payment to government on yearly basis for gross budgetary support.
Another key issue: Railway Ministers offered favors to the constituencies represented by them during their term. This can't be done once if Merger happens.