Centre grants Navratna standing to IRCTC, IRFC, CFO Information, ETCFO
New Delhi [India], March 3 (ANI): The central authorities has granted Navratna standing to 2 corporations — Indian Railway Catering and Tourism Company (IRCTC) and Indian Railway Finance Company (IRFC), Division of Public Enterprises mentioned in posts on X.
With the newest addition, the nation now has 26 Navratna corporations.
IRCTC is a Ministry of Railways CPSE with an annual turnover of Rs 4270.18 crore, a revenue after tax of Rs 1,111.26 crore and a internet value of Rs 3,229.97 crore for the monetary yr 2023-24.
Equally, IRFC is a Ministry of Railways CPSE with an annual turnover of Rs 26,644 crore, revenue after tax of Rs 6,412 crore, and internet value of Rs 49,178 crore for the monetary yr 2023-24.
The grant of ‘Navratna’ standing usually results in an enhanced delegation of powers, extra operational freedom, and monetary autonomy, which supplies these corporations super impetus.
The Navratna corporations have the autonomy to take a position as much as Rs 1,000 crore with out in search of approval from the central authorities.
A number of the different Navratna corporations are Bharat Electronics Restricted, Container Company of India Restricted, Engineers India Restricted, Hindustan Aeronautics Restricted, Mahanagar Phone Nigam Restricted, Nationwide Aluminium Firm Restricted, Nationwide Buildings Development Company Restricted, Neyveli Lignite Company Restricted, NMDC Restricted, Rashtriya Ispat Nigam Restricted, Transport Company of India Restricted, Rail Vikas Nigam Restricted, ONGC Videsh Ltd, Rashtriya Chemical substances and Fertilizers Restricted, IRCON, RITES, Nationwide Fertilizers Restricted, Central Warehousing Company, Housing and City Growth Company Restricted, Indian Renewable Power Growth Company Restricted, and Mazagon Dock Shipbuilders Restricted.
The Division of Public Enterprises (DPE) is the nodal division for all of the Central Public Sector Enterprises (CPSEs) and formulates coverage about CPSEs. (ANI)
