Budget 2018-19

  Sharing started in 2014 in the ratio of 80:20 between IRCTC and the Indian Railways Monday onwards, half the revenue that accrues to Indian Railway Catering and Tourism Corporation (IRCTC) through the convenience fee on train tickets will go to the Ministry of Railways. Officials in the know told Business Standard IRCTC’s management would meet on Friday to figure out a strategy to safeguard revenues. According to IRCTC’s Annual Report, it earned Rs 299.13 crore from the convenience fee (also called service charge) during 2020-21. These gains were lower owing to the fall in railway ticket bookings after the pandemic came. IRCTC had earned Rs 349.64 crore in 2019-20. “The ministry of railways has conveyed its decision to share the revenue earned from the convenience fee collected by IRCTC in the ratio of 50:50 with effect from November 1,” IRCTC said in a notice to the stock exchanges. Before 2014, there was no sharing of service charge between IRCTC and the Railways though the lat...

  ‘Indian Railways will never be privatised. It is a property of every Indian and will remain so,’ the minister said Railways Minister  Piyush Goyal  on Tuesday asserted that Indian Railways will never be privatised but said private investment should be encouraged for more efficient functioning.Replying to a discussion on Demands for Grants for Railways, Goyal said there has been no death of any passenger due to a rail accident in two years and the railways has been putting enormous focus on passenger safety. He said the country can progress towards high growth and create more employment opportunities only when the public and private sectors work together.”Indian Railways will never be privatised. It is a property of every Indian and will remain so,” the minister said, adding that it will remain with the government of India.Goyal said the Modi government has hiked investment in railways to Rs 2.15 lakh crore in 2021-22 fiscal, from Rs 1.5 lakh crore in 2019-20 fiscal. “We...