India Union Railway Budget 2017 will be declared on 1st February by Finance Minister Arun Jaitley. Indian Union Budget 2017 is necessary, due to demonetization. Prime Minister Narendra Modi earlier announced demonetization were people faced many problems. Due to this, all the citizens of India are waiting for the reduction in tax. This is all done through new Indian Union Budget. Narendra Modi’s new annual budget plans are ahead. Check out Union Railway Budget 2017. Now Budget for Railway is separated from the monetary budget since 1924. Every year this budget is planned at the end of the year as a road plan for coming year.
Railway Budget 2017 Live Streaming
From 1924, that is from the time of British rule Railway budget is planned combined with general budget. But officials want to separate this process. This is so because from railways we receive high industrial assets. Railway budget plays a very key role. After Independence, this colonial process of Railway budget continued by Railway Minister. Every year railways present their budget before two days of the general budget announcement. Find Indian Union Railway Budget 2017 below.
Indian railways also had to pay the amount to Central Government. But nowadays income from railway department is decreasing day to day. Nearly railways are now contributing 4% to monetary budget. Also, expenditure for railways also been degrading. As per a report in 2009, there are about 44% of civilian employees in railway.
Union Railway Budget 2017 Highlights
Indian Railway network consists a route of about 65,000 Km and a track length of 115,000 Km. All over India, it had to maintain 7,172 stations. Daily Railways had to run 12,617 passenger trains and 7421 freight trains. The government had made an approval of merging railway budget with few more sectors like Defence. This requires more expenditure than Railways. So Arun Jaitley, the Financial Minister announced Railway Budget to me combined with General Budget. By doing this Indian railway is saving an amount of Rs 10,000 crore as a share to gross budgetary.
Indian Union Budget 2017 Live Updates
The budget for Indian Railways is to be declared on February 1st. This budget is going to take a start from April 1st, 2017. So before 1st April, budget planning had to be finalized for coming financial year. All the business men, government departments, agencies and state-owned companies can plan their tax paying according to the budget. This will create them a good Tax payment without any confusion. So check out Live Updates On Railway Budget 2017. Budget planning was started earlier from October 2016. Planning for the budget is done based on the first six months of the financial year.
Elections for Uttarakhand, Goa, Uttar Pradesh, Manipur, and Punjab is going to be conducted in few days. But the government had decided not to announce any schemes for these states. The Union of General and Railway budget is put forwarded by Railway Minister. This was endorsed by NITI Aayog. On combining Monetary and Railway Budget, parliament members saves the time to approve the budget.