Tuesday, September 27, 2016

SPECIAL CORRESPONDENT

Chairman of Parliamentary Standing Committee on Finance M. Veerappa Moily said here on Tuesday that the committee will give its report on the ramifications of the Union Cabinet’s decision of merging the Railway Budget with the General Budget before the commencement of next Parliament session.

Speaking to presspersons on the sidelines of a function at the University College, Mr. Moily said the committee would examine its implications on the Railways, the Railway Board, statistics, planning and finance departments. The committee would have at least three sittings on the same.

“It is a major budgetary reform. The committee would examine in depth the implications and submit its report before the commencement of the winter session in November,” he said.

Mr. Moily said the matter would be discussed with the Statistics and Planning Departments on September 29. Later it would be taken up with the Finance department and the Railway Board.

The former Union minister said that the Railway Budget has been separate since the British era. When the Railways had its own budget there was flexibility to announce its new programmes and impose levy. It may not be so after the merger.



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