Economy
Railways to raise extra capital expenditure: Prabhu
Railway Minister Suresh Prabhu said on Wednesday that amalgamating the railway budget with general budget will help the Indian Railways to raise extra capital expenditure.
 
According to Prabhu, the amalgamation will not impact the functional autonomy or the distinct identity of the railways.
 
"Rail budget was earlier presented by Railway Minister in India, the practice was only followed in India," Prabhu said.
 
"Keeping in mind the importance of the railways, the Cabinet Committee of Economic Affairs (CCEA) today (Wednesday) decided to merge the general budget and the rail budget together." 
 
The minister endorsed the move as a historic step which will help meet global benchmarks and best practices.
 
"The merger would also facilitate an integrated and seamless approach towards transportation strategy in the country," the minister elaborated.
 
Prabhu maintained that the distinct identity of railways will remain intact. 
 
On the financial implication of the move, the minister stated that it will help railways raise extra capital expenditure which will allow it to enhance connectivity in the country and boost economic growth.
 
Besides, the railways would also not need to pay dividends on the allocated capital expenditure amount.
 
The move will be implemented from the coming year will see an end to a 92-year old tradition started in 1924 of presenting a separate budget for the Indian Railways.
 
"From the coming year, the railway and the general budget will be amalgamated. There will be only one budget," Finance Minister Arun Jaitley said here after a Cabinet meeting.
 
The decision to merge the rail and the general budgets was mooted by Railway Minister Suresh Prabhu and endorsed by NITI Aayog member Bibek Debroy.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

SRINIVAS SHENOY

5 months ago

What do you think?... Write your comments. we expected a lot from the honourable minister Suresh Prabhu and most of my expectations of conveniences, improvement in passenger services, facilities, reasonable pricing is being met.

SC permits dance bars with liquor minus CCTV, for now
The Supreme Court on Wednesday said dance bars in Maharashtra will continue to operate under the old terms and conditions that permitted serving of liquor with CCTV cameras at the entrance.
 
Without putting on hold the new rules that limited the timings of the dances up to 11.30 p.m., prohibiting serving of liquor and installation of CCTV cameras in the dance bar itself, Justice Dipak Misra and Justice C. Nagappan said the "persons granted licence should be allowed to continue under old terms and conditions". 
 
"You ban liquor in the state," the bench said, taking exception to the new rules that prohibits serving of liquor at the dance bars. 
 
"Somebody has a bar licence and a dance bar. You can't say don't serve liquor. Anybody who has a bar licence, you can't say that you can't serve liquor," Justice Misra said told the Maharashtra government.
 
"You fight for the dignity of women. You protect the dignity of women." 
 
Senior counsel Shekhar Naphade told the court: "I have a right to prohibit liquor in the bar and it (right to prohibit liquor) will remain unless it is taken away by the court." 
 
Appearing for the Maharashtra government, Naphade also defended the new rule that mandates the dance bars to install CCTV in dance area, saying it was a part of the police power of the state. 
 
"I have a power to regulate and I have a right that my regulations are complied with. The only way I can do it is through CCTV," Naphade told the court. 
 
An apparently unimpressed bench said: "We understand logically and constitutionally the powers of the police." 
 
The bench asked senior counsel Jayant Bhushan, appearing for the dance bar owners, if they could make some arrangements so as to assist the police if needed. 
 
Bhushan told the court that CCTVs had a chilling affect on the people coming to dance bars. "People have some right to privacy."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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India to merge rail, general budgets; end non-plan, plan distinction
India on Wednesday decided to do away with a 92-year-old legacy of a separate general and railway budget by unifying them and do away with differentiating plan and non-plan expenditure.
 
"From coming year the railway and the general budget will be amalgamated. There will be only one budget. And secondly, distinction between plan and non-plan expenditure will be ended from next year," Finance Minister Arun Jaitley said here after the Cabinet meeting.
 
Non-plan expenditure is what the government spends on the so-called non-productive areas, such as salaries, subsidies, loans and interest, while plan expenditure pertains to the money to be set aside for productive purposes, like the various projects of ministries.
 
Finance ministry officials said after the abolition of the Planning Commission, the relevance of plan and non-plan expenditure is lost -- and a better indicator of productive and general expenditure will be a distinction under the heads of revenue and capital.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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