LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

FinMin should consider taking over part of pension liability of railways: Parliamentary panel

A parliamentary panel has suggested that the Finance Ministry should consider taking over a part of the pension liability of the railways, if not in full, as it is being done in all other ministries.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
 FinMin should consider taking over part of pension liability of railways: Parliamentary panel
The Railway Convention Committee on Internal Resource Generation has said that the impact of pension payment on the railways at the moment is around Rs 50,000 crore annually. Image source: Reuters
Written By: PTI
Updated: Sat, Aug 04, 2018
07:55 pm
PTI
RELATED NEWS
RRB NTPC Exam 2021 Admit Card released on rrbkolkata.gov.in —Check  details  RRB NTPC Exam 2021 Admit Card released on rrbkolkata.gov.in —Check details
WOW! Oscillation Trial: 180km per hour—WATCH new AC-3 tier coach clocks lightning speed  WOW! Oscillation Trial: 180km per hour—WATCH new AC-3 tier coach clocks lightning speed
 Railtel IPO strategy with Anil Singhvi: Share price rises 5 pct on debut today Railtel IPO strategy with Anil Singhvi: Share price rises 5 pct on debut today
Indian Railways reactivates UTS ON MOBILE App in these zones Indian Railways reactivates UTS ON MOBILE App in these zones
Big HELP by Indian Railways! This man paid Rs 6011 instead of Rs 60 to a vendor! Check how RPF helped him get his money back Big HELP by Indian Railways! This man paid Rs 6011 instead of Rs 60 to a vendor! Check how RPF helped him get his money back

A parliamentary panel has suggested that the Finance Ministry should consider taking over a part of the pension liability of the railways, if not in full, as it is being done in all other ministries. The Railway Convention Committee on Internal Resource Generation has said that the impact of pension payment on the railways at the moment is around Rs 50,000 crore annually. Railway Board Chairman Ashwani Lohani, in his submission to the board, has said that the pension orders of all the pensioners who have retired prior to January, 2016, be revised.

Lohani said that it has been mandated that the Ministry of Railways' expenditure has to be met out of the income and it is only the Ministry of Railways which bears its pension liability and for everyone else it is borne by the Ministry of Finance. "I would like to submit here that when it comes down to devising the salary structure and the pension structure, the Ministry of Railways has no say in that. "The decision is taken by different ministry, irrespective of whether it is Rs 3,000 crore or Rs 5,000 crore...It is the Ministry of Railways which is expected to generate these additional resources," he said.

The committee agreed with Lohani and said that the Railway Board should approach the Ministry of Finance for the same.?? "The Railway Board has thus suggested that the pension liability of the railways be taken over by the Finance Ministry as it is being done in all other cases. The committee find some merits in the contention of the Ministry of Railways as the huge impact of the pension liability is adversely affecting internal resource generation by the railways," it said.

"The committee desires that the Railway Board take up the matter with the Ministry of Finance and other appropriate authorities so that at least a part of pension liabilities of the railways, if not full, is borne by the Finance Ministry," the committee said. In its report submitted in the Lok Sabha earlier this week, the committee has said that they were deeply concerned to find that during the last five years ? from 2013-3014 to 2017-2018, there have been shortfalls on the part of the railways in achieving internal revenue generation targets, except in 2014-2015.

During 2013-2014, 2015-2016 and 2017-2018 the shortfall was of Rs 2,828 crore, Rs 769 crore, Rs 2,782 crore and Rs 8,238 crore respectively. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Indian Railways
RELATED NEWS
RRB NTPC Exam 2021 Admit Card released on rrbkolkata.gov.in —Check  details  RRB NTPC Exam 2021 Admit Card released on rrbkolkata.gov.in —Check details
WOW! Oscillation Trial: 180km per hour—WATCH new AC-3 tier coach clocks lightning speed  WOW! Oscillation Trial: 180km per hour—WATCH new AC-3 tier coach clocks lightning speed
 Railtel IPO strategy with Anil Singhvi: Share price rises 5 pct on debut today Railtel IPO strategy with Anil Singhvi: Share price rises 5 pct on debut today
Indian Railways reactivates UTS ON MOBILE App in these zones Indian Railways reactivates UTS ON MOBILE App in these zones
Big HELP by Indian Railways! This man paid Rs 6011 instead of Rs 60 to a vendor! Check how RPF helped him get his money back Big HELP by Indian Railways! This man paid Rs 6011 instead of Rs 60 to a vendor! Check how RPF helped him get his money back

LATEST NEWS

After petrol-diesel and LPG cylinder prices increase, CNG, PNG rates hiked in Delhi-NCR too from today

SBI Home Loan EMI Calculator: Save more than Rs 2000 per month on Rs 50 lakh loan - here is how

WOW! Oscillation Trial: 180km per hour—WATCH new AC-3 tier coach clocks lightning speed

Lawsuit accuses Amazon of ''systemic'' racism in corporate offices

Technology driven glitch at NSE cost us hugely: FM Nirmala Sitharaman

Ex-FC Barcelona President arrested in raid

Bitcoin : Microstrategy and Tesla are moving parts of their corporate treasuries into Bitcoin says CIti Research

Aditya Birla Fashion and Retail share price: Sharekhan maintains Buy rating with a revised price target of Rs 255

Stocks to buy with Anil Singhvi: Buy NBCC for bumper returns - Special Pick

ICSE, ISC exams 2021: CISCE releases Class 10, Class 12 date sheet on cisce.org — check exam dates and other details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved