92-year-old tradition ends, Cabinet approves merger of Rail budget with general budget

New Delhi: The Union Cabinet on Wednesday approved the merger of the Railway budget with the Union Budget, according to media reports.

This brings to an end a 92-year-old British-era legacy of presenting the Railways Budget and the Union Budget separately.

The Railway Budget was being presented on its own since 1924 because the Railway Budget would often exceed the general budget, media reported.

According to Union Finance Minister Arun Jaitley, situations have changed and there will be one budget only. But there will be no compromise related to its functional autonomy, he said.

India Blooms News Service