Government's dividend collection from CPSEs hits record Rs 61,149 crore
government's dividend mopup from non-financial central public sector enterprises (CPSEs) and entities in which it holds minority stakes has touched a record ₹61,149 crore, 22% higher than the revised estimate for 2023-24, with almost a fortnight to go this fiscal, according to the latest finance ministry data.
Dividend receipts in the first half of March alone totalled nearly ₹10,000 crore. The revised estimate in the interim budget last month estimated the dividend collection for 2023-24 at ₹50,000 crore, higher than initial target of ₹43,000 crore.
«The dividend collection has surpassed all expectations this fiscal. CPSEs across sectors have been performing well, and the strong dividend flow is the clearest sign of that,» said an official, who did not wish to be identified. «Also, global crude oil prices didn't quite surge as was feared after the Israel-Hamas war in October last year. So, the profitability of oil companies didn't quite take a beating, which augurs well for dividend flow. Power sector companies, too, have been doing well.»
Higher dividend would offset any potential shortfall in the government's miscellaneous receipts, which include disinvestment and monetisation, from the revised estimate of Rs 30,000 crore for this fiscal.
This month, the government has received dividends of Rs 2,149 crore from Power Grid Corporation of India, Rs 2,043 crore from Coal India, Rs 1,115 crore from NTPC, Rs 1,054 crore from Hindustan Aeronautics, Rs 1,024 crore from NMDC, Rs 948 from NHPC, Rs 647 crore from Power
