Finance Minister further said that plan and non-plan classification of expenditure have been done away with in the budget in order to give a holistic picture
NEW DELHI: Railway Budget 2017 will for the first time be a part of the main Union Budget as the Narendra Modi government does away with the practise of presenting a separate one.
Unveiling his annual budget in Parliament Wednesday, Finance Minister Arun Jaitley said his government has introduced three major reforms in the Union Budget for 2017-2018. He described the merger of Railways Budget with General Budget as “historic” and insisted that the merger will bring focus on a multi-modal approach for development. Jaitley added the functional autonomy of the railways will be maintained.
He further said that plan and non-plan classification of expenditure have been done away within the budget in order to give a holistic picture.
In a departure from practice, Jaitley said the government has also advanced the date of budget presentation to February 1 in order to complete the legislative exercise and approve the Finance Bill before April 1.