Showing posts with label Budget. Show all posts
Showing posts with label Budget. Show all posts
Aug 15, 2016
[CA] Railway Budget to be merged with General Budget from 2017
Railway Budget to be merged with General Budget from 2017
From the next fiscal, the 92-year-old
practice of presenting a separate Rail Budget is set to come to an end as the
Finance Ministry accepted to Railway Minister Suresh Prabhu’s proposal for
merging it with the General Budget.
Railway Budget:-
·
Railway Budget of India also referred as Rail Budget
is the Annual Financial Statement of the state-owned Indian Railways, which
handles rail transport in India. It is presented every year by the Minister of
Railways, representing the Ministry of Railways, in the parliament.
·
The Railway Budget is presented every year, a few days
before the Union budget of India.
·
Following the recommendation of the 10 member-Ac worth
Committee in 1920-21, headed by British railway economist William Acworth. The
“Acworth Report” led to reorganization of railways, the railway finances of
India were separated from the general government finances in 1924. A practice
which continues in independent India to date.
·
First live telecast of railway budget took place on 24
March 1994. Lalu Prasad Yadav, who remained Railways Minister from 2004 to May
2009, presented the railway budget 6 times in a row.
·
In the year 2000, Mamata Banerjee, who is the current
Chief Minister of West Bengal became the first women Railway Minister of India.
In the year 2002 she also became the first female Minister of Railways (India)
to present the Railway budget, she is also the only woman who presented the
railway budget for two different central governments (NDA and UPA).
·
In 2014 railway budget, Railway Minister V. Sadananda
Gowda announced the first bullet train and 9 High-Speed Rail of India. Railway
Budget 2016 was presented on February 25, 2016 By Suresh Prabhu.
Rail Budget – No more:-
·
The Finance Ministry has now constituted a five-member
committee comprising senior officials of the Ministry and the national
transporter to work out the modalities for the merger. The committee has been
asked to submit its report by August 31.
·
If the merger happens, Indian Railway will get rid of
the annual dividend it has to pay for gross budgetary support from the
government every year.
·
With the merger, the issue of raising passenger fares,
an unpopular decision, will be the Finance Minister’s call and this merger is
proposed in the long-term interest of national transporter as well as the
country’s economy.
·
The public sector behemoth has to bear an additional
burden of about Rs 40,000 crore on account of implementation of the 7th Pay
Commission awards, besides an annual outgo of Rs 32,000 crore on subsidies.
Besides,
the delay in completion of projects resulted in cost overrun of Rs 1.07 lakh
crore and huge throw-forward of Rs 1.86 lakh crore in respect of 442 ongoing
rail projects.
Jul 22, 2016
[CA] Tamil Nadu Budget 2016-17
Tamil Nadu Budget 2016 – 17
Government has formulated the following Five
State Missions and Eleven Special Focus Areas of Development. The five Missions
contemplated here set ambitious targets to be achieved through multi-disciplinary
and multi-departmental co-ordination.
The Five State Missions are:
Ø
Mission for water resource management and revival of Kudimaramath
Ø
Mission for housing to achieve hut-free villages and
slum-free cities
Ø
Mission for poverty reduction and economic empowerment
of the poor
Ø
Mission for a clean Tamil Nadu
Ø
Mission for skill development
The Eleven Special Focus Areas of
Development are:
Ø
Agriculture and allied sector development
Ø
Strengthening urban infrastructure
Ø
Tourism promotion
Ø
Promotion of Micro, Small and Medium Enterprises
Ø
Infrastructure development including roads, power,
minor ports, irrigation and drinking water
Ø
Industrial investment through corridor based
development and improving ease of doing business
Ø
Education for all with focus on quality
Ø
Health for all
Ø
Social security with focus on women and children
Ø
Strengthening urban transportation
Ø
Good Governance and transparency
·
In order to improve water regime by increasing overall
bio-diversity of forest in the catchment and to enhance the sustained discharge
of water into Vaigai and Noyyal rivers, this Government will launch a new
scheme for ‘Rejuvenation of Vaigai and Noyyal Rivers’
·
The State Government will embark on a Mission for
Water Resource Management to restore water bodies and revive Kudimaramath
through user communities
·
Government is preparing a Comprehensive Flood
Protection Plan, which will be executed in a phased manner
·
105 dams to be rehabilitated (works in 68 dams are
already commenced) by the World Bank funded ‘Dam Rehabilitation and Improvement
Project’ (DRIP)
·
Government has already taken up the inter-linking of
Tamirabarani, Karumeniyar and Nambiyar rivers in Tirunelveli and Thoothukudi
Districts
·
Tourism circuits covering various themes like heritage
tourism, religious tourism, eco tourism and health tourism will be promoted and
strengthened besides encouraging new tourism promotion activities like
heli-tourism, water sports activities, etc.
·
The scheme of Annadhanam is being implemented in 724
temples in the State, which will be extended to another 30 temples during 2016-2017.
·
Subsequent to the Global Investors Meet 2015, M/s.
Ford Motors, USA is in the process of establishing its Research & Development
Centre at Chennai, the first such global centre outside USA.
·
Japan International Co-operation Agency (JICA) has agreed
to fund the second phase of the ‘Tamil Nadu Investment Promotion Programme’
(TNIPP)
·
SIPCOT (State Industries Promotion Corporation of
Tamil Nadu) has also initiated action for implementing this project by forming
a Special Purpose Vehicle i.e. Madurai-Thoothukudi Industrial Corridor Development
Corporation Limited and has expedited the land acquisition process
·
‘New Entrepreneurship-cum-Enterprise Development
Scheme’ (NEEDS), a pioneering initiative of the Government, had been designed
to promote entrepreneurship amongst first generation entrepreneurs. This scheme
will be extended to major educational institutions for executing ‘Start-up
Action Plan’ activities at a cost of one crore rupees to create a vibrant start
up eco-system in Tamil Nadu.
·
Government will construct ten lakh houses in the next
five years in the State under various schemes
·
Government is launching the ‘Mission for Clean Tamil
Nadu’. This State Mission will create awareness to use toilets and will also
help to establish modern Solid Waste Management systems. The resources under
the ‘Swachh Bharat Mission’ will be effectively dovetailed with the State
schemes to improve sanitation and achieve the goal of an ‘Open Defecation Free’
Tamil Nadu.
·
Government will establish 37 new Primary Health
Centres (PHCs) and upgrade 24 existing PHCs into 30 bedded PHCs during
2016-2017
·
The teacher-pupil ratio in Government schools has consistently
improved to 1:25 at primary level, 1:24 at upper primary level, 1:26 at
secondary level and 1:37 at higher secondary level as against the National norm
of 1:30, 1:35, 1:40 and 1:45 respectively.
·
Government will establish new colleges in the needy
places to improve access to higher education particularly for girls.
·
Orders have been issued for establishing a High
Altitude Training Centre at Udhagamandalam
·
In the Revised Budget Estimates 2016-2017, the Fiscal
Deficit has been estimated to be Rs.40,533.84
crores, which is 2.96 per cent of Gross State Domestic Product (GSDP), and is
well below the limit prescribed by the Tamil Nadu Fiscal Responsibility Act,
2003.
|
Department
|
Fund Allocated
(all in Rs. Crore)
|
|
School Education
|
24130
|
|
Rural Development
|
21186.58
|
|
Energy
|
13,856
|
|
Municipal Administration
|
11820
|
|
Health
|
9073
|
|
Law & Order
|
6102.95
|
|
Revenue
|
5686
|
|
Social Welfare Scheme
|
4512.32
|
|
Higher Education
|
3679.01
|
|
Water Resources
Department
|
3406.69
|
|
Planning &
Development
|
2425
|
|
Industries
|
2104.49
|
|
Poverty Reduction
|
1605.81
|
|
Transport
|
1295.08
|
|
Highways
|
1220.28
|
|
Animal Husbandry
|
1188.97
|
|
Handlooms & Textile
Sector
|
1129.74
|
|
Justice
|
993.24
|
|
Information Technology
|
890
|
|
Fisheries
|
743.79
|
|
Housing For All
|
689
|
|
Environment & Forests
|
652.78
|
|
MSME
|
348.22
|
|
Road Safety
|
315
|
|
Prisons
|
282.92
|
|
Fire & Rescue
Services
|
230.07
|
|
Local Body Elections
|
183.24
|
|
Handicrafts & Khadi
Sector
|
174.27
|
|
Youth Welfare &
Sports Development
|
153.39
|
|
Employment & Skill
Development
|
150
|
|
Dairy Development
|
121.69
|
|
Tourism
|
85.8
|
|
Tamil Development
|
32.94
|
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