TRANSPORT AND COMMUNICATION
RAILWAYS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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John Mathai
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Shanmukham Chetty
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Lalu Prasad Yadav
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None of these
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Detailed explanation-1: -John Mathai CIE was an economist who served as India’s first Railway Minister and subsequently as India’s Finance Minister, taking office shortly after the presentation of India’s first Budget, in 1948.
Detailed explanation-2: -The 1950 India Republic budget was presented by John Mathai. The first budget of the Indian republic set the tone for formation of the Planning Commission (now Niti Aayog), under the leadership of PC Mahalnobis. Which was the first “Ease of Doing Budget”.
Detailed explanation-3: -Speech of Shri Lal Bahadur Shastri introducing the Railway Budget for 1955-56, on 22nd February 1955. Mr.
Detailed explanation-4: -Detailed Solution. The British had separated the Railway Budget in 1924 as a major part of the government revenues.