IRFC to remain post rail budget merger

Indian Railway Finance Corporation is a dedicated financing arm that helps raise money from the market to partly finance the plan outlay of Indian Railways

When the Union government decides to merge the Railway Budget with the General Budget, it will have to take a call on borrowings by Indian Railway Finance Corporation Ltd (IRFC). Officials said issues related to letters of payment assurance that Indian Railways at present offers to IRFC are yet to be resolved.

IRFC is a dedicated financing arm of the ministry of railways. It helps raise money from the market to part finance the plan outlay of Indian Railways and is used for acquisition of rolling stock assets and for meeting other developmental needs of the Indian