New Delhi: A Milestone for Railway PSUs

In a significant development, the Centre has bestowed the prestigious Navratna status upon the Indian Railway Catering and Tourism Corporation (IRCTC) and the Indian Railway Finance Corporation (IRFC). This elevation marks a total of seven listed government-owned companies under the Indian Railways' umbrella achieving the Navratna status, signifying enhanced operational autonomy and financial flexibility.

Empowering Railway CPSEs

Railway Minister Ashwini Vaishnaw highlighted that since 2014, all seven listed railway Central Public Sector Enterprises (CPSEs) have been upgraded to Navratna status. This includes Concor, RVNL, IRCON, RITES, and RailTel, with Concor being the first to be recognized in July 2014. Navratna entities are empowered to make discretionary investments up to Rs 1,000 crore or 15% of their net worth, paving the way for strategic growth and expansion.

IRCTC: A Pillar of Railway Services

The IRCTC, an integral part of the Indian Railways, offers online railway ticket booking and catering services. With an annual turnover of Rs 4,270 crore, a profit after tax of Rs 1,111 crore, and a net worth of Rs 3,230 crore for FY24, IRCTC exemplifies the financial robustness of railway CPSEs. The ministry proudly noted that the cumulative profit of these entities has surged from Rs 7,015 crore in FY21 to Rs 11,780 crore in FY24, underscoring their profitability and efficiency.