New Delhi: The Ministry of Railways has sought Gross Budgetary Support (GBS) of upto Rs 70,000 crore as Finance Minister Arun Jaitley is set to present the Interim Budget 2019 on February 1.
As per sources, the Railway Ministry has asked the Finance ministry to hike its financial support by upto 30 percent because the national locomotive has already been saddled by the burden of pay out to 7th Pay Commission, hike in the prices of diesel, additional cost on infra among many other factors.
Railways has said that it has placed the request for the enhanced GBS because Railways also bears an additional burden of around Rs 23,000 crore on account of implementation of the 7th Pay Commission awards.
The Finance Ministry had fixed the Gross Budgetary Support for the Railawys at Rs 53,060 crore, last year.
Ending 92-year-old tradition, the government two years ago decided to merge rail budget with the general budget and agreed in-principle to advance the date of its presentation in Parliament on February 1. The government has also decided to do away with the Plan/ Non-Plan expenditure classification in Budget 2017-18 and replace it with 'capital and receipt.'