Source: https://www.moneycontrol.com/news/business/budget-2022-govt-likely-to-set-roadmap-for-railway-psus-merger-7886171.html
Publisher: MoneyControl
The Centre is likely to announce a roadmap for the merger of six public sector undertakings (PSUs) under the Ministry of Railways in Budget 2022-23, starting the process for a radical restructuring of these organizations.
The mergers were recommended by principal economic adviser Sanjeev Sanyal in August 2021 in a report on the rationalization of government bodies under the railway ministry.
Top government officials have told Moneycontrol that Finance Minister Nirmala Sitharaman is likely to announce the path towards the merger of Rail Vikas Nigam Ltd (RVNL) with Indian Railway Construction Ltd (IRCON), RailTel Corporation with Indian Railway Catering and Tourism Corporation (IRCTC), and Braithwaite & Co Ltd with Rail India Technical and Economic Services (RITES) when she presents Budget 2022-23 on February 1.
The Railway Board has suggested a timeline for the merger of the six PSUs, the officials who did not wish to be identified said.
“Two out of the three railway PSU mergers are likely to be completed next year but adherence to timelines will depend on regulatory approvals,” one official said.
