Union Cabinet approves RCC recommendation on dividend rate

Union Cabinet today approved the Railway Convention Committee's (RCC) recommendation on rate of dividend for 2014-15 and 2015-16.

The Cabinet chaired by Prime Minister Narendra Modi has given its approval for adoption of a resolution to be moved in Parliament as per the recommendation of the RCC for determining the rate of dividend for fiscal 2014-15 and 2015-16 at 5 per cent and 4 per cent respectively on the entire capital (excluding dividend free capital) invested in Railways from the General Revenues, according to a release.

The adoption of resolution in Parliament would enable the Railways to implement the recommendations contained in the Railway Convention Committee's 2014 report.