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Business News/ Companies / News/  Govt receives 2,000 crore dividend from 2 CPSEs

Govt receives ₹2,000 crore dividend from 2 CPSEs

With this, the total dividend receipts of the government from CPSEs have exceeded ₹43,000 crore, inching closer to the revised estimates for 2021-22

DIPAM Secretary Tuhin Kanta Pandey.Premium
DIPAM Secretary Tuhin Kanta Pandey.

The government has received 1939 crore  as dividend from state-owned IOCL and 67 crore from CONCOR as dividend tranches, DIPAM Secretary Tuhin Kanta Pandey said on Wednesday.

With this, the total dividend receipts of the government from CPSEs have exceeded 43000 crore, inching closer to the revised estimates for 2021-22.
The revised Budget estimate for dividends from CPSEs was lowered to 46,000 crore from 50027 crore estimated in the Budget earlier.
In 2021-22, the Budget had pegged receipts from dividends of CPSEs at 50,027 crore.
The government had in 2016 revised the dividend distribution policy of Public Sector Undertaking (PSU) entities by asking them to pay 30% of post-tax profit or 5% of net worth, whichever is higher, as dividend every year.
A week ago, the government received 914 crore from state-owned GAIL (India) . Ltd as a dividend tranche.

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Dilasha Seth
" Dilasha Seth is a journalist reporting on macroeconomic policy for the last 11 years. She writes extensively on issues including international trade, macroeconomic data, fiscal policy, and taxation. At Mint, she reports on trade deals that India is signing besides key policy decisions of the Ministry of Finance. She closely tracked and covered the transition to the goods and services tax (GST) regime in 2017 and also writes on direct tax-related issues. In the past, she has worked with Business Standard and The Economic Times. She is based in Bangalore."
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Published: 23 Feb 2022, 09:11 PM IST
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