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Budget merger report expected to be submitted by November

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Budget merger report discussion

Though the budget merger report of NDA government is still a pending scrutiny with the Parliamentary standing committee on finance yet Mr. Veerappa Moily, Chikkaballapur MP and former union minister, expressed on behalf of the committee that they are hopeful of submitting its report on the merger before the start of the winter session of Parliament, scheduled for November.

On the Foundation Day program of University College, of which Moily is an alumnus, he has reported to media persons on the sidelines that the Union cabinet has formally taken a decision on budgetary reforms, including the merger of the two budget.

According to Moily, the committee will examine the ramification of what this process entails. The committee is to discuss this issue with statistics and planning department and also with finance minister. Railway board, an important cog in this merger process, too will be consulted on the impact of this budgetary reform on Indian railways, added the minister.

Incidentally, the top finance ministry officials have already indicated that the decision will not have any impact on the autonomy or decision making process of the Indian Railways.

Further, the decision of the committee might help the Union government to think about certain aspects, and to make appropriate appraisal of finances of the country. The committee has already examined amendments of the companies bill. A report on this will be submitted soon.

Information source: Times of India
Image source: ibtimes.com

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