The Ministry of Railways in India is in charge of the Indian Railways, the state-owned company that enjoys a monopoly in Rail transport in India. As of May 2009, the ministry is headed by the Railways Minister Mamata Banerjee .
Important leaders such as John Matthai, N. Gopalaswamy Ayyangar, Lal Bahadur Shastri, Madhu Dandavate, Panampilly Govinda Menon, Madhavrao Scindia, C K Jaffar Sharief have served as Minister of Railways.
Thanks to historical reasons, the Ministry of Railways presents a budget separate from the general budget of India. The practice started in 1924. At the time, the Railway Budget formed about 70% of the country's budget. So separating it out allowed better focus on each budget's priorities. The Railway Budget now is less than 15% of the national budget. Though the Railway budget can no longer be justified as a separate budget presentation, it is still watched eagerly as the annual fare and tariff setting event.