♦ The Union Government on 3 March 2025, approved the upgradation of Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) as the country’s 25th and 26th Navratna companies       respectively.

♦ IRCTC is a Ministry of Railways Central Public Sector Enterprises (CPSEs) with an annual turnover of Rs.4,270.18 crore, PAT of Rs.1,111.26 crore and a net worth of Rs.3,229.97 crore for FY 2023-24. 

♦ IRFC is a Ministry of Railways CPSE with an annual turnover of Rs.26,644 crore, PAT of Rs.6,412 crore and a net worth of Rs.49,178 crore for FY 2023-24.

♦ What is ‘Navratna’ status?   

♦ Navratna status is conferred upon public sector undertakings that demonstrate outstanding financial and market performance. 

♦ This recognition enhances their autonomy and financial authority. A key advantage of this status is that the companies can invest up to Rs.1,000 crore or 15 percent of their net worth in a single project without needing prior approval from the central government.