<P> The Railway Budget was presented every year, a few days before the Union budget, till 2016 . Modi government on 21 September 2016 approved merger of the Rail and General budgets from next year, ending a 92 - year - old practice of a separate budget for the nation's largest transporter . Railways Minister Suresh Prabhu said that his merger proposal was in the long term interest of railways as well as the country's economy . </P> <P> Following the recommendation of the Acworth Committee in 1920 - 21, headed by British railway economist William Acworth The "Acworth Report" led to reorganisation of railways, the railway finances were separated from the general government finances in 1921 . After that in 1924 the budget was announced, a practice that continued till 2016 . </P> <P> John Mathai presented the first Railway Budget for independent India in November 1947 . </P> <P> The first live telecast took place on 24 March 1994 . </P>

First railway budget of india was presented by