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Govt diktat on IRCTC -- penny wise, pound foolish

The government’s action in taking away half of the convenience fee levied by IRCTC underlines the risk in public sector companies 

October 29, 2021 / 09:21 AM IST
Govt diktat on IRCTC -- penny wise, pound foolish

Call it greed, ignorance, incompetence, or mismanagement, every word fits the actions of the Ministry of Railways diktat to share IRCTC's revenue, without any concern for other shareholders.   The Indian Railway Catering & Tourism Corporation Limited (IRCTC), on Thursday, announced that the Ministry of Railways has decided to share the revenue IRCTC earns from convenience fees in the ratio of 50: 50, a move that has been widely and rightly criticised by fund managers and analysts. The sharing will come...

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