Shifting focus from the ongoing currency chaos, the BJP government has finally announced that it will roll out the Union Budget on February 1. The government has also said that the budget session will start from January. Till now, the budget session was being presented by the end of February, but this pre-pone of the session is aimed at enabling state governments to disburse funds from the beginning of the financial year.
Earlier in September, the Finance Ministry announced the merger of the rail budget along with union budgets, changing a 92-years old practice following a separate budget for Indian Railways. With this merger, the railway convention committee will be dissolved and Indian railways will be considered as one of the major sectors of the main budget session. It will also help cash-needed railways with an advanced budget format, that will go parallel with the targeted roll-out of the goods and services tax (GST) from April 1.