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India grants Navratna status to IRFC and IRCTC, boosting financial autonomy for railway corporations.
The Indian government has granted Navratna status to the Indian Railway Finance Corporation (IRFC) and the Indian Railway Catering and Tourism Corporation (IRCTC), increasing the total number of Navratna companies to 26.
This status provides greater financial autonomy, allowing these entities to invest up to Rs 1,000 crore without government approval.
IRFC, established in 1986, focuses on financing Indian Railways' infrastructure projects, while IRCTC had a financial year 2023-24 turnover of ₹4,270.18 crore.
The Navratna designation aims to enhance the competitiveness and efficiency of public sector enterprises.
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India concede el estatus de Navratna a IRFC e IRCTC, impulsando la autonomía financiera de las corporaciones ferroviarias.