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Informist, Tuesday, Jul 23, 2024

--FY25 dividend, profits receipts seen 2.891 trln rupees 

--FY25 RBI surplus, PSU bk dividend seen at 2.33 trln rupees 

--Interim Budget saw FY25 RBI surplus, PSU dividend 1.02 trln rupees 

--Dividend from PSUs seen at 563 bln rupees in FY25 

--Interim Budget saw FY25 PSU dividend at 480 bln rupees 

--Sitharaman: Dividend from PSUs is increasing

--Sitharaman: See revenue mobilisation from PSU dividend as well 

NEW DELHI – The government today raised the target for surplus transfer from the Reserve Bank of India and dividends from public sector banks and financial institutions for 2024-25 (Apr-Mar) to 2.33 trln rupees, sharply higher than 1.02 trln rupees projected in the Interim Budget.

The steep revision is mainly on account of the record 2.11 trln rupees transferred by the RBI as surplus to the central government for 2023-24.

The receipts from surplus transfer by the RBI and dividends from PSU banks are 123% higher than the revised estimate of 1.04 trln rupees for 2023-24. In the last fiscal, the RBI transferred 876.14 bln rupees to the government as surplus.

"Dividends from PSUs (state-owned undertakings) is increasing. This will help in revenue mobilising," Finance Minister Nirmala Sitharaman said presenting the Budget. A back-of-the-envelope calculation shows that public sector banks are expected to give a dividend of 220 bln rupees to the government for 2024-25. Informist reported earlier, quoting Financial Services Secretary Vivek Joshi, that the PSU banks are expected to transfer 180-200 bln rupees as dividends in the current financial year.

The dividends from other public sector companies are projected at 562.60 bln rupees in 2024-25, 83 bln rupees higher than the Interim Budget estimate of 480 bln rupees. The dividends from other public sector companies are 13% higher than the revised estimate of 500 bln rupees for 2023-24.  End

Reported by Priyasmita Dutta and Anupreksha Jain

Edited by Saji George Titus

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