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.

Indian Railways Indian state-owned enterprise, owned and operated by the Government of India

Indian Railways (IR) is India's national railway system operated by the Ministry of Railways. It manages the fourth largest railway network in the world by size, with 67,368-kilometre (41,861 mi) route.. Routes are electrified with 25 kV AC electric traction while thirty three percent of them are double or multi-tracked.

Rail transport in India Mode of transport

Rail transport is an important mode of transport in India.

Minister of Railways (India) head of the Ministry of Railways in India

The Minister of Railways is the head of the Ministry of Railways of the Government of India. The railway minister is usually accorded a cabinet rank, and is responsible for Indian Railways, one of the largest employers in the world. An important responsibility of the railway minister is to present in Parliament the Railway Budget, the Annual Financial Statement of Indian Railways. Piyush Goyal of the Bharatiya Janata Party is the current Minister of Railways, serving since 3 September 2017.

Contents

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]

The Union Budget of India, also referred to as the Annual Financial Statement in the Article 112 of the Constitution of India, is the annual budget of the Republic of India. The Government presents it on the first day of February so that it could be materialized before the commencement of new financial year in April. Till 2016 it was presented on the last working day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Finance bill and the Appropriation bill has to be passed by Lok Sabha before it can come into effect from April 1, the start of India's financial year.

Suresh Prabhu Indian politician

Suresh Prabhakar Prabhu is an Indian politician and currently serving as the Minister of Commerce & Industry and Civil Aviation under the Modi government.

History

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]

William Mitchell Acworth British railway economist

Sir William Mitchell Acworth KCSI was a British railway economist, barrister and politician.

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]

Lalu Prasad Yadav Indian politician

Lalu Prasad is an Indian politician from the state of Bihar. He is the President of the Rashtriya Janata Dal, former Chief Minister of Bihar, former UPA Minister of Railways, and former Member of Parliament of the 15th Lok Sabha.

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).

Mamata Banerjee Chief Minister of Indian state of West Bengal

Mamata Banerjee is an Indian politician of Bengali descent who is serving as the 8th and current Chief Minister of West Bengal since 2011. She is the first woman to hold the office. She founded the party All India Trinamool Congress in 1998 after separating from the Indian National Congress, and became its chairperson. She is often referred to as Didi.

West Bengal State in Eastern India

West Bengal is an Indian state, located in eastern region of the country on the Bay of Bengal. With over 91 million inhabitants, it is India's fourth-most populous state. It has an area of 88,752 km2 (34,267 sq mi). A part of the ethno-linguistic Bengal region of the Indian subcontinent, it borders Bangladesh in the east, and Nepal and Bhutan in the north. It also borders the Indian states of Odisha, Jharkhand, Bihar, Sikkim, and Assam. The state capital is Kolkata (Calcutta), the seventh-largest city in India, and center of the third-largest metropolitan area in the country. As for geography, West Bengal includes the Darjeeling Himalayan hill region, the Ganges delta, the Rarh region, and the coastal Sundarbans. The main ethnic group are the Bengalis, with Bengali Hindus forming the demographic majority.

The National Democratic Alliance (NDA) is a coalition of Progressive centre-right to right-wing political parties in India. At the time of its formation in 1998, it was led by the BJP and had 13 constituent parties. Its chairman was late Prime Minister Atal Bihari Vajpayee. Also representing the alliance are L. K. Advani, former Deputy Prime Minister, who is the acting chairman of the Alliance, Narendra Modi, current Prime Minister and the Leader of the House in Lok Sabha; and Arun Jaitley, Leader of the House in Rajya Sabha and Finance minister. The coalition ruled from 1998 to 2004. The alliance returned to power in the 2014 General election with a combined vote share of 38.5%. Its leader, Narendra Modi, was sworn in as Prime Minister of India on 26 May 2014.

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

D. V. Sadananda Gowda Indian politician, Ex Chief Minister of Karnataka

Devaragunda Venkappa Sadananda Gowda is an Indian politician and was the 20th Chief Minister of Karnataka and is currently the Minister of Statistics and Programme Implementation in the Government of India. He previously served as Minister of Law and Justice shifted from the Ministry of Railways in the cabinet reshuffle of 5 July 2016. He is a member of the 16th Lok Sabha representing the Bangalore North constituency.

Shinkansen High speed train in Japan

The Shinkansen, meaning new trunkline, but colloquially known in English as the bullet train, is a network of high-speed railway lines in Japan. Initially, it was built to connect distant Japanese regions with Tokyo, the capital, in order to aid economic growth and development. Beyond long-distance travel, some sections around the largest metropolitan areas are used as a commuter rail network. It is operated by five Japan Railways Group companies.

India does not have any railways that can be classified as high-speed rail (HSR) by international standards, i.e. railways with operational speeds exceeding 200 km/h (120 mph). The current fastest train in India is the Vande Bharat Express with a top speed of 180 km/h (110 mph), which runs between New Delhi and Varanasi.

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

See also

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2016 Railway budget of India

2016 Railway Budget of India refers to the Railway Budget of the Indian Railways in the fiscal year 2016–17. The budget was presented by the Railway Minister Suresh Prabhu in the Parliament on 25 February 2016. It was the final Railway Budget of India as after this budget, the Railway Budget got merged with the Union Budget of India.

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Antyodaya Express

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Jan Sadharan Express trains are series of passenger services operated by Indian Railways in different routes.

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East-WestDedicated Freight Corridor or East-West DFC is a freight specific railway under proposed in eastern to Western India by Indian Railways. The railway will run between Kolkata in West Bengal and Mumbai in Maharashtra. It was announced by Mr. Suresh Prabhu, Indian Railway Minister while presenting the Railway Budget of India 2016-17. The government has indicated that they are likely to use a foreign direct investment for funding the project. The project would be undertaken through PPP model.

References

  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.

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