New Delhi: In a historical change India’s Finance Minister Arun Jaitley today announced merger of Rail Budget with General Budget during a press conference in New Delhi.
The Union Cabinet today gave its nod to merge the railway budget with the general budget from next year, putting an end to a practice that started in 1924.
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Finance minister Arun Jaitley said after the Cabinet meeting, “Rail budget and general budget will be amalgamated from now, there will only be one budget.”
The decision in this regards has been taken by the Union Cabinet and was cleared during a meeting of Union Cabinet of Ministers chaired by Prime Minister Narendra Modi.
The Union Cabinet has approved advancing the date for presenting the Union Budget by almost a month to 1 February.
With this there will be no separate railway budget from the next financial year.