Demystifying IRCTC: Is it a Government Entity or Private Company?
Have you ever wondered about the entity behind the seamless online ticketing, catering, and tourism services for the Indian Railways? Look no further than the Indian Railway Catering and Tourism Corporation (IRCTC). But here’s the burning question: is IRCTC a government entity or a private company? Let’s dive into the details and unravel the mystery.
- Establishment: IRCTC was established on 27 September 1999, as a public sector undertaking fully owned by the Government of India through the Indian Railways.
- Listing on Stock Exchanges: While IRCTC was listed on the National Stock Exchange and Bombay Stock Exchange in 2019, the government retained a significant ownership stake of 67%. This indicates that it is a government-owned entity, as the majority of its shares are held by the government.
- Ownership: As of December 2023, the Government of India still holds a 62.4% ownership stake in IRCTC, further confirming its status as a government-owned entity.
- Services: IRCTC provides essential services such as online ticketing, catering, and tourism services for the state-owned Indian Railways. These services are aligned with the objectives and operations of the Indian Railways, which is a government-owned entity.
- Regulation: IRCTC operates under the administrative control of the Ministry of Railways, which is a government department responsible for railway transportation in India.
Overall, based on the details provided, IRCTC is a government-owned entity and not a private company.
So, the next time you book a train ticket online or enjoy a piping hot meal on a long-distance train journey, remember that behind the scenes, IRCTC, a government entity, is working tirelessly to make your travel experience as smooth as possible.
