Recently the government scrapped the practice of presenting a separate Railway Budget and merged it ...........

Indian Polity Indian Parliament

Recently the government scrapped the practice of presenting a separate Railway Budget and merged it with the Union Budget. Consider the following statements in this regard

1. Article 112 of the Indian constitution talked about Annual Financial Statement for the Railways and has been amended accordingly.

2. Now the decisions regarding railway fares and tariffs will be taken by Finance Minister.

3. Post-merger the railways will have to pay an annual dividend for the gross budgetary support it receives from the government.

Select the correct answer using codes given below

1 and 3 only

2 only

2 and 3 only

3 only

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Explanation:

The constitution does not talk about a separate Railway Budget. The separate railway budget is based on the recommendations of Ackworth Committee of 1924.
Also, it was before merger that the railways had have to pay an annual dividend for the gross budgetary support it received from the government. Now this requirement has been done away with.