 "Train, IRFC, Railways")
Was the railway board not taken into confidence by the finance ministry while announcing the divestment of railway public sector undertakings?
If sources are to be believed, the announcement to list railway subsidiaries like IRCTC, IRFC and Ircon in various stock exchanges was done by not taking railways into confidence. This would mean that the plan to create a holding company for all railway PSUs may be put on the backburner.
The idea of listing these companies was floated before railway management only three days ago by the Niti Aayog in a meeting, where the idea of listing Rites and Ircon was mooted. The railways took the stand that a Cabinet note is already floated on creation of a mega holding company, and the authorities should take a final call only after a Cabinet decision on this regard.
However, the listing plan of railway subsidiaries found its entry to the budget even after this stand, which railway authorities termed as a "shocker".
When asked about this, a senior ministry official said, "Now the creation of a mega holding company is unlikely to happen."
The 13 railway PSUs that was supposed to be a part of this are Container Corporation of India, Ircon International, Indian Railway Catering and Tourism Corporation, Konkan Railway Corporation, Mumbai Railway Vikas Corporation, Rail Vikas Nigam, Railtel Corporation of India, Rites, Dedicated Freight Corridor Corporation of India, Burn Standard Company, Braithwaite & Company, Bharat Wagon & Engineering Company and Kolkata Metro Rail Corporation.
