Railway Budget 2018| Railway Budget Merged General Budget
Railway Budget Merged General Budget 2018. As we know that Earlier Rail and the General Budget was presented separately every year but from the financial year 2017-18 it was decided to Railway Budget Merged With General Budget both of them to save on cost for the government. However, initially, like the introduction of any new policy or decision in the interest of the nation face roadblocks and opposition from other political parties for their respective vested political interests. This time also the government faced challenges and hiccups to implement it but at the end came out with flying colors. But most of the sections of the society welcomed the move of the government as we all anxiously wait for Rail and Union General budget every year irrespective of age, gender, profession and class as it has a significant impact on us like on our savings, household expenses etc.
Positive Effect Of Railway Budget Merged General Budget
The foremost benefit Merging Railway Budget is that the railway will be free from financial burden as if now it will not require to pay the government for the budgetary support it receives from it. It will not obstruct the functioning of the railways it will work as a separate entity like before with the sole objective to increase its revenues and the decisions will rest on the railway board. Earlier resources were wasted but after Railway budget merge there will be an optimum utilization of limited resources. Now railway budget is less than 15% of the general budget. The Indian railway struggles to reduce the revenue deficit without success but the Railway budget merged General budget committee will help as it will be taken care by the Ministry of Finance.
The Merger of Rail Budget With Union Budget
The Railway budget 2018-19 will have the autonomy to work towards revenue generations and free from the constraints of salaries and wages to its vast pool of employees. Now it is a part of the capital expenditure of the general budget so the government will take care of the financial health of the railway. Though it will benefit the railway after the merger it comes with a cost. As the government works on the popular budget to appease all the sections and class so it will give a jolt to fare hikes and we know at present railway is under pressure to reduce its loss of revenue. It will affect the expenditure of the railway as the allocation of funds now depends on the revenue of the Railway budget merged with the Union and General budget. With Merger of Railway Budget with Union budget committee will become a part of another government department which will hamper and slow down it’s functioning as we know how government departments work. It will come as a blow to the public since it is the largest and favorable mode of transportation used by the middle class as well as lower income groups. We heard of its privatization but after the merger, it will be not so easy to fulfill it and attract investments. It will affect the future to become a world-class railway with quality service and amenities for the passengers. Though the Railway Budget Merged General Budget will make the railway to lose some of the ground but gain more than that in the service of the people.