"We intend to strengthen the position of our PSUs at the international level by giving them greater autonomy and by bringing about qualitative improvement in their managerial and technical capabilities", Prasad said while presenting the Railway budget for 2005-06.

"It is a matter of pride that two public sector undertakings under the railways, namely RITES and IRCON have made a mark and have made successful bids in the international arena", he said.

The performance of the PSUs has been satisfactory during 2003-04 also, he said adding the Indian Railway Finance Corporation posted a net profit after tax of Rs 379 crore (Rs 3.79 billion) during 2003-04 and paid a dividend of Rs 110 crore (Rs 1.1 billion) as against a dividend of Rs 101 crore (Rs 1.01 billion) in the previous year.

Railway Budget 2005-06: Complete Coverage

The Container Corporation of India [Get Quote] registered a turnover of Rs 1807 crore (Rs 18.07 billion) with a net profit of Rs 368 crore (Rs 3.68 billion). The company paid a dividend of Rs 81 crore (Rs 81 million) during 2003-04.

The IRCON International has registered a turnover of Rs 792 crore (Rs 7.92 billion) with a net profit of Rs 62 crore (Rs 620 million) and paid a dividend of Rs 19 crore (Rs 190 million) during 2003-04.

RITES registered a turnover of Rs 285 crore (Rs 2.85 billion) with net profit of Rs 48 crore (Rs 480 million), and paid a dividend of Rs 12 crore (Rs 120 million).

Indian Railway Catering and Tourism Corporation Ltd, during 2003-04, earned a total income of Rs 70 crore (Rs 700 million) as against Rs 53 crore (Rs 530 million) earned during the previous year.