Vanishing Budget of Indian Railways
Since the discontinuance of a separate Budget in 2017, Indian Railways (IR) and its annual budget have lost significance and spotlight. It has been seen by many as something which was done in view of its size being increasingly smaller vis-à-vis the national Budget and by others as a move which has led to greater budgetary support to railways, further pandering to its financial indiscipline. Well, Budget declarations are important not merely because of the allocation made by the government for various schemes and projects in the coming financial year as well as a review of financial performance of ongoing and coming years, but also because of an affirmation of the policies being followed, or freshly envisaged, by the government in the long term. In the background of the merger with main budget, the budget of the ‘lifeline of the nation’ does not evoke much interest. It may be reduced to four lines in the budget speech of the Finance Minister but railwaymen for life, which...