Govt gets MPs’ panel nod on Budget merger

Tribune News Service

New Delhi, December 9

A Parliamentary panel has given its nod to the Ministry of Finance to go ahead with one consolidated Budget and doing away with accounting government expenditure under Plan and Non- Plan heads. It also asked the Ministry of Finance that the concurrence is subject to the stipulations that the Ministry of Railways will continue to enjoy the same financial and functional autonomy.

Putting a caveat, the Estimates Committee, which is a statutory Parliamentary panel and is headed by BJP veteran Murli Manohar Joshi, has also made it clear that the Railway Board would continue to prepare the Rail Budget and forward the same to the Ministry of Finance for incorporation in the consolidated Budget. “The Railways will get Gross Budgetary Support (GBS) for modernisation, expansion, safety and security works,” it said, stressing that the Railways would not be required to pay dividend to the Central government.

Further, the parts of the Budget dedicated to the Railways would continue to be discussed in both the Houses of Parliament for at least the same duration as discussed hitherto during the Budget session, the panel noted.

The Committee has also cautioned against the possible adverse consequences of excessive concentration of financial powers in the Ministry of Finance.