IRCTC Upgraded to Navratna Category, Gets Increased Financial Freedom

The Indian Railway Catering and Tourism Corporation (IRCTC) has been upgraded to the Navratna category by the Government of India. This promotion will enable IRCTC to invest up to Rs 1,000 crore without referring the matter to the government, thus increasing its operational and financial freedom. The move is expected to make IRCTC more competitive and efficient in its functioning. At the same time, the Indian Railway Finance Corporation (IRFC) has also received Navratna status, taking the number of Navratna Central Public Sector Enterprises (CPSEs) to 26. This development is likely to accelerate decision-making and enhance the efficiency of both firms in the railways sector.
Source: Economic Times, Moneycontrol, DD News