BANKING AFFAIRS

Detailed explanation-1: -The recommendation of the Acworth Committee separated the railway budget from the general budget in 1924. Acworth Committee was constituted in 1920, under the chairmanship of Sir William Acworth. Committee recommended the consolidation and nationalization of the Indian Railways.

Detailed explanation-2: -The Acworth Committee recommended the consolidation and nationalization of the Indian Railways. 2. Bibek Debroy recommended the merger of Indian Railway budget with union budget.

Detailed explanation-3: -2. In the 2017 Union Budget, it was decided that Railway Budget would be separated from the Union Budget. Q. It was Radcliffe Committee in 1920-21, headed by British railway economist William Radcliffe, which decided a seaprate budget for the Railways.

Detailed explanation-4: -Detailed Solution. The British had separated the Railway Budget in 1924 as a major part of the government revenues.

Detailed explanation-5: -The Acworth Committee, chaired by Sir William Acworth, pointed out that the entire railway system needed unified management, hence on the recommendation of the Committee, the government started presenting the Railway budget separately from the General budget henceforth every year.