Rail Budget

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

The Railway Budget was presented every year, a few days before the Union budget, till 2016. Modi government on 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 nation’s largest transporter. Railways Minister Suresh Prabhu said that his merger proposal was in the long term interest of railways as well as the country’s economy.[1]

History[edit]

Following the recommendation of the Acworth Committee in 1920-21, headed by British railway economist William Acworth[2] The "Acworth Report" led to reorganisation of railways, the railway finances were separated from the general government finances in 1921. After that in 1924 the budget was announced, a practice that continued till 2016.[3][4][5]

John Mathai presented the first Railway Budget for independent India in November 1947.

The first live telecast 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$1.5 billion) budget was passed.[6]

In the year 2000, Mamata Banerjee (later Chief Minister of West Bengal) became the first female Railway Minister. In 2002, she became the first female to present the Railway budget and is the only woman to do so for two different governing coalitions (NDA and UPA).

In 2014 budget, Railway Minister D. V. Sadananda Gowda announced the first bullet train and 9 High-Speed Rail routes.[7]

The last Railway Budget [8] was presented on 25 February 2016 by Mr. Suresh Prabhu.

Also, according to Mid-day, a mumbai centric local tabloid newspaper, railway minister Piyush Goyal is planning to introduce 210 air-conditioned suburban local trains and convert the existing fleet into closed-door, cool trains at the cost of R16,3809 crore in the Rail Budget of 2018 which is to be presented on 1st February 2018.[9]

See also[edit]

References[edit]

  1. ^ "Railway budget to be merged with General budget from 2017". 14 August 2016 – via www.thehindu.com.
  2. ^ "No. 32188". The London Gazette (Supplement). 11 January 1921. p. 278.
  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. ^ "After 92 years, Rail Budget is history". Business Standard. Retrieved 24 March 2017.
  9. ^ "Mumbai s rail infrastructure development top on February 1 budget agenda". mid-day. 2018-01-30. Retrieved 2018-01-30.

Further reading[edit]

External links[edit]