The 92-year-old habit of presenting a separate Railway Budget has finally come to an end. Railway Budget has been merged with Union Budget. The government has also advanced the date for Budget presentation and having just one head of expenditure by merging both plan and non-plan expenditures.
The 92-year-old habit of presenting a separate Railway Budget has finally come to an end. Railway Budget has been merged with Union Budget.
In a major overhaul, the Cabinet today approved advancing presentation of the annual Budget by a month, scrapped over nine-decade old tradition of having a
separate Railway Budget and removed classifications for expenditure to make the exercise simpler.
With a view to get all the legislative approvals for the annual spending and tax proposals before the beginning of the new financial year on April 1, the Cabinet headed by Prime Minister Narendra Modi approved advancing date for
presentation of the General Budget by a month instead of present practice of unveiling it at the end of February.
The Cabinet also approved merging Railway Budget with the general Budget and doing away with distinction of plan and non-plan expenditure, officials said.
(With inputs from PTI)