Railways seeks gross budgetary support of Rs 50,000 cr for FY'18
- The Ministry of Railways has sought gross budgetary support (GBS) of Rs 50,000 crore for 2017-18,
- Though the Finance Ministry is likely to agree for only Rs 40,000-45,000 crore.
- In fact, the railways do not have the capacity to absorb more than Rs 30,000 crore,” the official said.
- The Finance Ministry for the current year had slashed it to Rs 28,000 crore, citing slow spending pace.
- Ending 92-year-old tradition, the government on September 21 decided to merge rail budget with the general budget and agreed in-principle to advance the date of its presentation in Parliament on February 1.
- The government has also decided to do away with the Plan/ Non-Plan expenditure classification in Budget 2017-18 and replace it with ‘capital and receipt.