The Parliamentary Standing Committee on Finance headed by by former Union Minister and senior Congress leader M Veerappa Moily will deliberate on the budget reforms.
As per the schedule, representatives of Ministry of Finance will brief the 31-member panel on 'Budgetary Reforms including Merger of Railway Budget with General Budget - Ramifications thereof'.
The Cabinet last month approved Finance Ministry's proposal on landmark budgetary reforms relating to merger of Railway budget with the General budget and the advancement of the date of Budget presentation from the last day of February.
Briefing reporters after the Cabinet meeting, Finance Minister Arun Jaitley had said the Cabinet has in-principle decided to end the colonial-era tradition of presenting Budget on last day of February and advance it to help complete the legislative approvals for the annual spending plans and tax proposals before the beginning of the new financial year on April 1.
More From This Section
But the actual date of presentation of the Budget for 2017-18 will be decided later keeping in mind the schedule for assembly elections in crucial states like Uttar Pradesh.
The presentation of separate Railway budget started in the year 1924, and has continued after independence as a convention rather than under Constitutional provisions.