Transport

Indian Railway Finance Corporation (IRFC), the financial arm of the Ministry of Railways, has reported a 3% decline in its profit for the fourth quarter of FY24, recording a profit of Rs. 1,667 crore, down from Rs. 1,717 crore in the same period last year. Despite this dip, the company saw an increase in total income, rising to Rs. 6,723 crore from Rs. 6,478 crore in the previous year. With strategic plans for resource mobilization and diversification of its lending portfolio, IRFC is positioning itself to meet the growing financial demands of India’s infrastructure sector.

Haryana's Transport Minister Anil Vij announced a significant policy shift on Monday, extending the validity of All India Tourist permits for vehicles in the state. The new rules will provide longer validity periods for both petrol/CNG and diesel tourist vehicles, a move that promises to benefit stakeholders in the tourism and transport industries.

The Maharashtra State Road Transport Corporation (MSRTC), one of India’s largest public transport entities, continues to grapple with acute financial distress, affecting operations and employee morale. Maharashtra Transport Minister Pratap Sarnaik recently stepped in to stabilize the situation, promising timely salary disbursals and pushing for partial release of long-pending state dues. With Rs. 1,076 crore in outstanding payments and only Rs. 120 crore released so far, the corporation remains under immense fiscal pressure.