The Government of India has granted ‘Navratna’ status to two key PSUs under the Ministry of Railways—Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC). This elevation, announced on Monday, marks a significant milestone, making them the 25th and 26th Navratna Central Public Sector Enterprises (CPSEs) in the country.
The Department of Public Enterprises confirmed the decision in a post on X, stating that IRCTC and IRFC met the eligibility criteria for the prestigious Navratna classification. This recognition is expected to enhance their financial and operational autonomy, allowing them to make larger investment decisions independently and expand their business portfolios.
Minister of Railways Ashwini Vaishnaw congratulated both organizations on this achievement, stating, “Congratulations to team IRCTC and team IRFC on being upgraded to Navratna status.”
With this recognition, both IRCTC and IRFC are poised to scale new heights in their respective domains, reinforcing their contribution to the Indian Railways and the nation’s economic growth.
