Business News: Government earns Rs 2,642 Cr with two PSUs Via Dividend

12 Sep, 2023 Author: Ayushee Joshi

Dividend Income News: Through two major Public Sector Undertakings (PSUs), the Central Government has collected a hefty amount of Rs 2642 Cr. These companies include the Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL). This information was provided by the Secretary of the Department of Public Asset Management (DIPAM) via a social media post.

Total Dividend Income Generated

The government of India earned Rs 2182 crore in dividend income from IOCL and Rs 460 crore from BPCL. In the current fiscal year, the government has received Rs 5,200 crore in dividends from public sector enterprises. In the month of July, the government received Rs 3,400 Cr from the National Investment and Infrastructure Fund Limited (NIIF) and ECGC through dividend. According to the Union Budget 2023-24, the government expects central non-financial PSUs to produce dividends and earnings of Rs 43,000 crore in FY 2024.