History of the Rail Budget


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.


A separate Railway Budget, which is different from the General Budget, was first introduced in 1924 on the basis of recommendations of the 10-member Acworth Committee. A practice which continues till date. The committee, which submitted its report in 1921, was headed by British railway economist William Mitchell Acworth. It was appointed by the British Government to suggest measures for improving financial performance of the Railways.

Under articles 112 and 204 of the India Constitution; the budget is presented in two distinct parts namely the Railways Budget pertaining to Railway finance and the General budget of India which gives an overall picture of the financial position of the Government of India excluding the Indian railways.

The first live telecast of Rail budget took place on March 24, 1994. Lalu Prasad Yadav who was the Railways minister from 2004 to May 2009 presented the railway budget six times in a row. In 2009 under his tenure a 108 billion rupee budget was passed.

In 2000 Mamta Banerjee the current CM of West Bengal became the first woman Railways Minister of India. In 2002 she also became the first female Minister of Railways (India) to present the Rail budget.

In 2014 rail budget was introduced by Railways Minister D.V. Sadananda Gowda in which he announced the  first bullet train and nine high speed rail of India.


 


Saturday, 27th Feb 2016, 07:22:27 AM

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