Line clear! Railways to be a part of Union budgets
New Delhi : Ending 92-year-old practise of having different budget for Railways, the Centre on Wednesday cleared merger of it in the Union Budget.
The Union Cabinet also approved Finance Minister Arun Jaitley's proposal to advance budget presentation by a month from the end of February.
"The union cabinet has decided that from the coming year the rail budget and the general budget will be amalgamated," FM Arun Jaitley told reporters
The move will allow easy implementation of new policies from April 1, the first day of the financial year.
# British era ends in India as Centre allows merging Railways with Union budget.
# The cabinet also approved the budget proposal to do away with plan and non-plan categorisation, redundant after the Planning Commission was abolished.
# There will be an early budget presentation
# There will be no plan, non plan distinction
# Budget process to end on or before March 31.