Indian Railway Finance Corp (IRFC) can now raise additional debt of more than 63,000 crore rupees, following the government exempting it from the ambit of a Indian Accounting Standard pertaining to deferred tax liability. An official release said, the corporate affairs ministry has exempted certain class of government companies that are notified as public financial institution under the Companies Act and those registered as NBFC with the Reserve Bank, among others, from following Accounting Standard-22 for seven years.The particular standard relates to recognition of provision for deferred tax. The release said the exemption is going to largely benefit IRFC, part of the railway ministry which helps inraising predominant portion of the extra budgetary resourcesthrough financial leasing model.