The Union Cabinet, headed by Prime Minister Narendra Modi, might take up the matter of advancing the date of Budget presentation and merging the rail and Union Budgets. Once approved, it will set in motion the process of the biggest overhaul in the budgeting process in 15 years. A Cabinet note details the above proposals as well as elimination of Plan and nonPlan classifications of expenditure and shifting to outcomebased budgeting from input- based budgeting. It is likely to be placed for the Cabinet’s approval on Wednesday. The Modi government is likely to present the Union Budget in the last week of January or the first week of February. This will ensure the Finance Bill is passed before the start of the financial year, on April 1, so that all central government departments get their full allocations to work with right from the first day. In the existing system, the Lok Sabha passes a vote- onaccount for the April- June quarter, under which departments are provided a sixth o