IRCTC listing still lingering despite clearance in 2017

Indian Railways yet do not have a comprehensive strategy to expedite the process of listing railway PSUs

vishwas

Vishwas Dass | June 14, 2018 | New Delhi


#Piyush Goyal   #Stock Exchanges   #IRCTC Listing   #Indian Railways   #PSU   #IRCTC  


Ministry of railways’ decision of holding the listing of Indian Railway Catering and Tourism Corporation (IRCTC) has exposed its seriousness in listing its public enterprises in stock exchanges.

Although the decision was taken one year back, the national transporter does not have a comprehensive strategy to facilitate the process.

The railways ministry has been delaying the listing of its PSUs for the past one year due to reasons undisclosed. It has not taken proactive measures to list its enterprises to garner funds from the market and introduce the needed transparency.

Post-demonetisation, the centre had permanently waived off the service charge levied by IRCTC on the e-ticket, which was its sole income medium. The IRCTC incurred losses of Rs 500 crore on account of this decision and so far a meager Rs 80-90 crore has been reimbursed by the finance ministry. The service charge was withdrawn on lieu of promoting digital payment.

As the centre did not compensate, the IRCTC kept on incurring losses resulting in poor evaluation of the enterprise. Sources said the railways have made little efforts to compensate losses incurred by IRCTC post-demonetisation.

The cabinet committee on economic affair, in 2017, had cleared the decks to list 11 public sector undertakings, including five railway PSUs namely IRCTC, RITES, IRFC, RVNL and IRCON.

Three days back, minister of railways Piyush Goyal affirmed that he himself had delayed the evaluation process of IRCTC because it was not getting the anticipated evaluation.  He said the huge database of IRCTC is not being captured in the valuation. “I am trying to see how we can capture and cross utilise these databases so that we can get better valuation which is comparable to other large customer-base companies,” the minister said.

Goyal also said that the listing of RITES, IRCON and RVNL is underway and would be concluded soon.

The IRCTC has got a huge customer data but it has not compiled it which has now become a problem in being getting evaluated.


 

Comments

 

Other News

On a Personal note with actor Neeraj Kabi

Neeraj Kabi, a critically acclaimed self-taught actor, theatre director, and acting teacher, has worked in Odiya, Hindi and international cinema, theatre, television and web series. In 2014 he was honoured with the best actor award at the 4th Sakhalin International Film Festival for his role in the fil

Talking to Trump, Modi hits out at Imran’s anti-India rhetoric

Prime minister Narendra Modi has told US president Donald Trump that Pakistan prime minister Imran Khan’s “incitement to anti-India violence” was not good for peace in south Asia. Modi and Trump had a telephonic conversation – their first since the Aug 5 move to chang

Paediatricians call for junking unhealthy food

As children are consuming more and more fast foods and sweetened beverages are becoming, leading to obesity and related non-communicable diseases (NCDs), the Indian Academy of Pediatrics (IAP) has come out with guidelines on such substances. The dietary guidelines under its nutrition chapter

Modi’s forward-looking I-Day speech lays down 5-year agenda

Contrast prime minister Narendra Modi’s first Independence Day speech in 2014 with his latest, the first in the second term, and you know the difference. His first speech was less about future and much about the basic needs like Swachch Bharat (clean India). His speech on Thursday, on the other hand,

Better cities require active citizen engagement

With Mumbai city battling myriad civic issues and annual flooding year after year, stakeholders and experts came together to discuss ways of dealing with these issues as community work. The discussion was held at the TEDxVersova Salon- Vibrant Civic Participation, an independent TED event organized by the

Independence Day: PM underlines new beginnings

Addressing the nation from the ramparts of the Red Fort for the first in his second term, prime minister Narendra Modi highlighted the new beginnings his government has made in recent days, and underlined the hopes of a new India in the making. “Things that could not happen in the past



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter