Union Budget 2017: Arun Jaitley says IRCTC, other railway PSUs to be listed

New Delhi: Government will move ahead with the listing of the railway public sector undertakings (PSUs)—Indian Railway Catering and Tourism Corp. (IRCTC), Indian Railway Construction Co. Ltd (IRCON) and Indian Railway Finance Corp. Ltd (IRFC)—and come out with a procedure for a time-bound listing of central public sector enterprise (CPSEs).

In his Budget speech on Wednesday, finance minister Arun Jaitley said the government will look at consolidation option for PSUs and a new CPSE exchange traded fund (ETF) in 2017-18.

“We will come out with procedure for a time-bound listing of CPSEs. IRTC, IRFC, IRCON to be listed. For CPSEs we will seek opportunities through consolidation,” Jaitley said.

Listing of PSUs will ensure economies of scale, investment and decision of PSUs and create value for stock, he said. Jaitley said the government will continue to use the ETF route for disinvestment of PSUs. New ETF comprising stocks of 10 PSUs will be launched in 2017-18, Jaitley said.

The Indian Railway Catering and Tourism Corporation Limited (IRCTC)