According to reports, Centre on September 21 officially ended India’s 92-year-old tradition of presenting Rail Budget every year.
The Railways is India’s largest employer and according to Rail Minister Suresh Prabhu, has been bearing an additional burden of Rs. 40,000 crore on account of implementation of the 7th Pay Commission.
The Indian Railways is currently facing an accumulated burden of Rs. 4.83 lakh crore which they need towards the execution of 458 unfinished and ongoing projects.
According to NDTV, the Finance Ministry will merge the railway and union budgets before January 25, 2017.
Further, the budget process will start three weeks early and in the first week of October itself. The finance ministry also aims to complete it by November 15, 2016.