Congress slams govt for merging budgets, says Rail Budgets' identity lost
The Congress on Wednesday lashed out at the Union government for merging the Rail Budget with the General Budget, saying that the Rail Budget had lost its identity.
Union Finance Minister Arun Jaitley on Wednesday presented a combined budget in Parliament, ending the 92-year-old practice of having a separate Rail Budget.
Both budgets were separated in the 1920s during the British rule on the basis of the report of the Acworth Committee. The first Railway Budget was first presented in 1924.
The Union cabinet last year approved the proposal of separating the two budgets. The cabinet also approved finance ministry's proposal to advance the general budget's presentation by a month.
An early presentation of budget will ensure that all legislative works are completed before the beginning of the new fiscal from April.