Indian Railway Finance Corporation to issue Rs 6000 crore tax-free bonds

Indian Railway Finance Corporation (IRFC) would raise Rs 6,000 crore through tax-free bonds in the current fiscal, Lok Sabha was told on Monday.

IRFC has been authorised by the Railway Ministry to issue tax-free bonds for a total amount of Rs 6,000 crore during the financial year 2015-16 through public issue, Minister of State for Railways Manoj Sinha said in the House.

Railways would utilise the funds to finance acquisition of rolling stock such as engines, coaches and wagons for use by the Railways.