Dinesh Trivedi, Former Rail Minister, said: "If you don’t have a separate Budget for railways the importance for railways goes away. You don’t need a railway minister, merge it with surface transport."

The Finance Ministry on Wednesday accepted the NITI Aayog member Bibek Debroy-initiated and Railway Minister Suresh Prabhu-backed proposal to merge the Rail and General Budgets. Here’s a quick take on the benefits and drawbacks of the merger.

The government now plans to switch to a capital and revenue-spending classifications. This will help create a clear and effective link between the government’s earnings, spending and outcomes.

Speaking to CNBC-TV18 Former Finance Minister Yashwant Sinha said the railways can’t be treated like any other department. "My own feeling is that the Finance Minister will have to grant a lot of autonomy to the Ministry of Railways, he said.

Once the circular is issued Budget exercise will kick off, Finance Secretary Ashok Lavasa told CNBC-TV18. Under the contours of the merged Budget, gross budgetary support to Railways Ministry will continue, so will the commercial arrangements of Railways Ministry, he said.

With plans to remove classification according to plan and non-plan expenditures, Shaktikanta Das says the government has already started conducting dry runs of a budget without plan and non-plan expenditures.

The Cabinet decision to bring forward the presentation of the union Budget and merge the Railway budget with it, along with a likely roll-out of the Goods and Services Tax from April 1 next year, could well make 2017 a breakout year for policy-making.

At a press briefing, Jaitley announced that the Cabinet headed by Prime Minister Narendra Modi has decided to scrap nearly a century old practice of having a separate railway budget and merging it with general budget.

"The abolition of a separate railway budget is not what it is purported to be. It is a measure towards commercialisation and privatisation of the Indian Railways," CPI(M) Politburo said in a statement.

"They (farmers) fear that BJP government and Arun Jaitleyji will not give farmers their rightful share so I have asked the government to directly tell what it will do for the farmers next year", the Congress vice-president stressed.

The instructions were issued following the Cabinet decision to merge rail and general Budgets, do away with distinction between plan and non-plan expenditure, and advance date of Budget presentation with a view to complete the entire exercise before March 31, the fiscal year end.

With the Cabinet's approving the merger of Railway Budget with General Budget, the parliamentary panel on finance has decided to 'examine' the move along with its "ramifications thereof".

The elections in five states, he said, are likely to be held in phases and the government in no way wants any of them to clash with the Budgetary exercise.

ixigo, India’s leading mobile travel marketplace has announced partnerships with Uber and redBus to enable instant bookings for cabs and buses natively within ixigo trains app.

On Tuesday, the central bank surprised the market with a 25-basis-point cut to its policy repo rate, or the rate at which it lends to banks, to 6.25 percent.

Sure, artificial intelligence can make life simpler by suggesting you places to eat, tell you weather, or even crack a joke. The more you use it, the more it learns about your habits and preferences. The protocols pertaining to artificial intelligence, or the lack of it, make our data less secure and more vulnerable.

Sensors, 3D printed skin, wearables, reconstructed organs, revolutionized clinical trials, personalized medicine and what not – get ready for a new era of healthcare

Shares of Borosil Glass Works have increased threefold over the past one year as the company has posted strong revenue and EBIDTA growth over the past few quarters.

Stocks like Hindustan Zinc, Hindalco, Jindal Steel, JSW Steel and Tata Steel gained over 1 percent from previous close.

Most people focus on returns and chase products that offer the best returns at any point.

But along with that the employment growth rates have started to dip, NV 'Tiger' Tyagarajan says. The percentage addition of employees in India will not be same as past. And due to advancements, a workforce with higher skill sets is required for the IT industry, he says.

This is the biggest ever single day sale for Bangalore-based Flipkart, since the time the company started in 2007.

"Allowing imports of cement from Pakistan, therefore, carried with it the additional risk in that it provides an effective cover for smuggling of contraband goods and harmful weapons and ammunition concealed in cement bags which comes in rakes and trucks, in the hands of disruptionist elements," he said.

The Aurangabad-based company aims to mop up nearly Rs 1,162 crore (at higher end of price band) by diluting 17.5 percent stake through the issue that will close on October 7. It already raised Rs 348.52 crore through anchor investors' portion on Tuesday, the day before issue opening.

Global liquidity tailwinds are unlikely to get any better from now and that makes Arvind Sanger, Managing Partner at Geosphere Capital Management “cautiously optimistic” on the Indian markets.

Credit Suisse' Neelkanth Mishra expects repo rate to fall to a decade low in the coming quarters. He says that beginning December the market may see a robust and widespread pick-up which may boost indices.

"In large parts of Africa, it is likely that technology could fundamentally disrupt this pattern. Research based on World Bank data has predicted that the proportion of jobs threatened in India by automation is 69 percent, in China it is 77 percent and in Ethiopia, the percentage of jobs threatened by automation is 85 percent," he said.

The benchmark 10-year government-security yield remained stuck in 8-7.5 percent range through all of 2015 and half of 2016, moving lower to sub-7 percent only when the RBI promised in April to reduce the system's liquidity deficit. The yield may now fall more.

The government has readied plans for a major change in India’s tax administration structure, including overhauling the Central Board of Excise and Customs (CBEC) to ensure a glitch-free roll-out of a nation-wide goods and services tax (GST).

Asian Paints, SBI, Tata Motors, HUL and Maruti Suzuki are top gainers while ONGC, Axis Bank, MM, Bajaj Auto and Hero MotoCorp are major losers in the Sensex.

In this edition of Big Story, Moneycontrol#39;s Sakshi Batra shares her insight on the fuel hike and how will it impact us.

If there is no direct government intervention to uplift demand then the auto industry is staring at its worst year ever.

Watch this edition of Business Insight to know more about CMIE#39;s latest unemployment data the job market situation in India.

In this edition of Big Story, Moneycontrol#39;s Sakshi Batra shares her insight on how states are imposing alcohol taxes to generate revenues.

According to Vikram Ahuja, co-founder, Talent500 by ANSR Consulting, a recruitment platform, there is a huge demand for a full stack developer as firms are now looking at doubling their product development.

Droom has announced a doorstep vehicle maintenance service in India. Called the ‘Jumpstart', the service will cater to all two-wheeler and four-wheeler vehicles. The service is being offered in light of the ongoing Covid-19 pandemic in the country.

Hyundai India has announced a unique ‘EMI Assurance' program due to the Covid-19 pandemic in the country. The new initiative supports working individuals with repayment of car loans in case any employment uncertainty.

Ashok Leyland has released the sales report for zero sales in April due to the COVID-19 pandemic. The nationwide lockdown was supposed to be lifted by May 4 but seeing the current scenario, the government has further extended it to May 17.

Honda is reportedly planning a sub-4 metre SUV for the Indian market. Like the other cars in the portfolio, like the CR-V, BR-V and WR-V names, the company is likely to call it the ZR-V at the time of launch.

BMW Group India has announced a start in operations at their Chennai based facility today. Operations have begun in accordance with guidelines issued by local authorities. Production at the facility has started with less than 50 per cent of the company's

Italian supercar manufacturer, Lamborghini, has virtually launched its Huracan EVO Rear-Wheel Drive Spyder in augmented reality, an unprecedented, and definitely an industry first for an unveiling.

The 2020 Mahindra Thar has been spotted testing ahead of its launch in India. Vehicle testing has resumed as the nation-wide lockdown has been eased in certain states across the country.

Skoda Octavia RS 245 deliveries have commenced in the country. The company has started to deliver the performance sedan as the nation-wide lockdown has been eased at select cities including Bengaluru.

Maruti Suzuki was among the first brand's in the country to offer factory-fitted CNG technology. The company offers CNG-powered variants on a number of their popular models, including the WagonR and the Alto.

Nissan India has officially revealed the Kicks BS6 in the Indian market. The upcoming SUV will feature a host of upgrades over the previous-gen BS4 models. The Nissan Kicks BS6 will be offered in four variants, and two engine and transmission options to choose from.

Mahindra has announced the launch of its new 'Own-Online' retail platform. The new online platform from Mahindra promises to be India's most complete, end-to-end, online vehicle ownership solution.

BMW has launched its most luxurious models in the Indian market, the 8 Series Gran Coupe and the M8 Coupe. The new BMW 8 Series Gran Coupe is offered in two variants: 840i Gran Coupe and 840i Gran Coupe ‘M Sport' Edition.

The new Maruti Suzuki Dzire has been spotted at a dealer's yard for the first time since it was launched in the Indian market. The images of the new Dzire by Gaadiwaadi have surfaced indicating deliveries will begin soon.

Due to the COVID-19 pandemic, India is currently facing a nationwide lockdown till May 17. This crisis has affected almost all businesses across the nation. Public transport has been shut down to follow social distancing norms.

The Tata Nexon EV driving range is expected to increase with future updates made to the compact-SUV. Future updates are also expected to improve Nexon EV's performance as well.