Rail Budget

India's Rail Budget is the Annual Financial Statement of the state-owned Indian Railways, which handles rail transport in India. It is presented every year by the Minister of Railways, representing the Ministry of Railways, in the parliament.

The Railway Budget is presented every year, a few days before the Union budget of India, till 2016. The government on Wednesday, 21 September 2016 approved merger of the rail and general budgets from next year, ending a 92-year-old practice of a separate budget for the country’s largest transporter.[1]

History

Following the recommendation of the 10 member-Acworth Committee in 1920-21, headed by British railway economist William Acworth[2] The "Acworth Report" led to reorganisation of railways, the railway finances of India were separated from the general government finances in 1921. After that in 1924 the budget was announced.A practise which continues in independent India to date.[3][4][5]

First live telecast of railway budget took place on 24 March 1994. Lalu Prasad Yadav, who remained Railways Minister from 2004 to May 2009, presented the railway budget 6 times in a row. In 2009, under his tenure a ₹108 billion (US$1.6 billion) budget was passed.[6]

In the year 2000, Mamata Banerjee, who is the current Chief Minister of West Bengal became the first women Railway Minister of India. In the year 2002 she also became the first female Minister of Railways (India) to present the Railway budget, she is also the only woman who presented the railway budget for two different central governments (NDA and UPA).

In 2014 railway budget, Railway Minister D. V. Sadananda Gowda announced the first bullet train and 9 High-Speed Rail of India.[7] Railway Budget 2016[8] was presented on 25 February 2016 By Suresh Prabhu.

See also

References

  1. ↑ http://www.thehindu.com/news/national/railway-budget-to-be-merged-with-general-budget-from-2017/article8988441.ece
  2. ↑ The London Gazette: (Supplement) no. 32188. p. 278. 11 January 1921.
  3. ↑ Powell Anstey, Vera (1952). The Economic Development of India. Ayer Publishing. pp. 136–137.
  4. ↑ Headrick, Daniel R (1988). The tentacles of progress: technology transfer in the age of imperialism, 1850-1940. Oxford University Press. p. 80. ISBN 9780195051162.
  5. ↑ Debroy, Bibek (6 March 2012). "Railway Budget 2012: Best time to raise fares is now". The Economic Times. Retrieved 19 March 2012.
  6. ↑ "Lalu announces some more trains". The Hindu. 20 February 2009. Retrieved 14 September 2013.
  7. ↑ "Gowda's announces first bullet train between Mumbai-Ahmedabad". Patrika Group. 8 July 2014. Retrieved 8 July 2014.
  8. ↑ "Railway Budget 2016-17 Download PDF in Hindi, English (Highlights)". TRV News. Retrieved 16 February 2016.

Further reading

External links

This article is issued from Wikipedia - version of the 11/16/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.