Consider the following statements

1. Railways budget is presented together with the Union budget from financial year 2017-18.

2. The total receipts and expenditure of the railways are incorporated in the Annual Financial Statement of the government of India.

3. In the budget 2023-24, ₹2.4 lakh crore capital outlay has been sanctioned for railways.

Which of the above statements are correct?

Solution

Railways is the principal departmentally-run commercial undertaking of the Government. The Budget of the Ministry of Railways and the Demands for Grants relating to Railway expenditure are presented to the Parliament together with the Union Budget from the financial year 2017-18 onwards. The Expenditure Profile has a separate section on Railways to capture all the salient aspects of the demand for grants of Railways and other details of interest regarding Railways. The total receipts and expenditure of the Railways are incorporated in the Annual Financial Statement of the Government of India. Details of other commercially run departmental undertakings are also shown in a statement. Expenditure is depicted in the Expenditure Profile and Expenditure Budget, net of receipts of the Departmental Commercial Undertakings, in order to avoid overstatement of both receipts and expenditure.