Government Receives Over Rs.5,000 Crore Dividend from Indian Oil, Check Other Companies Dividend
In a significant financial update, the Indian government has received approximately ₹5,091 crore from Indian Oil Corporation Ltd (IOCL) as part of a dividend tranche. This news was confirmed by Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM), in a recent post on X.
Dividend Collection for Financial Year 2024-25
So far in the 2024-25 financial year, the government has gathered a total of ₹10,604.74 crore in dividends from various Central Public Sector Enterprises (CPSEs). Here’s a breakdown of the contributions:
- Electronics Corporation of India Ltd (ECIL): ₹40 crore
- Power Finance Corporation: ₹554 crore
- Telecommunications Consultants India Ltd (TCIL): ₹3,443 crore (as a special dividend)
The government has set an ambitious target for this fiscal year, aiming to collect ₹56,260 crore in dividends from public sector enterprises. This target is higher compared to the ₹50,000 crore set for the 2023-24 fiscal year.
LIC’s Dividend Payment
In a related update, Life Insurance Corporation (LIC), India’s largest insurer, has paid a substantial dividend of ₹3,662.17 crore for the financial year 2023-24. This amount was officially handed over to Finance Minister Nirmala Sitharaman by LIC’s Managing Director and CEO, Siddhartha Mohanty. This dividend follows an earlier interim payment of ₹2,441.45 crore made by LIC in March 2024.
The significant dividends from IOCL and LIC highlight the ongoing strength and performance of India’s public sector enterprises, contributing positively to the government’s revenue.
