The Central Government has received about Rs 6,600 crore as dividend tranches from a dozen central public sector enterprises, including GAIL, NMDC and Power Grid, moving towards its Rs 50,028 crore dividend target for the ongoing fiscal.
The Centre received about Rs 972 crore and Rs 2,506 crore from Nuclear Power Corporation of India Limited and Power Grid Corporation of India Limited as Dividend tranches. Besides, Hindustan Aeronautics, Bharat Electronics, HLL Lifecare Ltd, FAGMIL and NSIC have given Rs 351 crore, Rs 149 crore, Rs 19 crore, Rs 12 crore and Rs 31 crore as dividend tranches, respectively.
In the current financial year, the Centre has received Rs 46,587 crore as dividend including these recent transfers. The government has budgeted Rs 50,028 crore as ‘dividend from public sector enterprises and other investments’ in the ongoing financial year.
PSUs are required to pay a minimum annual dividend of 30 per cent of their profits or 5 percent of their net worth, whichever is higher. In the last financial year, the Centre had announced a consistent dividend policy for PSUs that requires them to pay interim dividend every quarter or on a half yearly basis.
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