Government Receives Rs 5,091 Crore Dividend from Indian Oil Corp

The Indian government received a Rs 5,091 crore dividend from Indian Oil Corporation Ltd (IOCL). So far, a total of Rs 10,604.74 crore has been obtained through dividends from CPSEs in the fiscal year 2024-25. The government aims to collect Rs 56,260 crore in dividends from public sector enterprises this fiscal year.

The government has secured a Rs 5,091 crore dividend from Indian Oil Corporation Ltd (IOCL), the Department of Investment and Public Asset Management (DIPAM) announced on Thursday.

DIPAM Secretary Tuhin Kanta Pandey revealed the dividend receipt in a post on X, highlighting that the total dividend collected from CPSEs for the current financial year 2024-25 has reached Rs 10,604.74 crore.

Among the contributors, Electronics Corporation of India Ltd (ECIL) provided Rs 40 crore, Power Finance Corp Rs 554 crore, and Telecommunications Consultants India Ltd (TCIL) Rs 3,443 crore as a special dividend. The government has projected to gather Rs 56,260 crore in dividends from public sector enterprises this fiscal year, up from Rs 50,000 crore in 2023-24. In a related note, Life Insurance Corporation (LIC) handed over a Rs 3,662.17 crore dividend for FY2023-24, with Financial Minister Nirmala Sitharaman receiving the cheque from LIC MD & CEO, Siddhartha Mohanty. This adds to the interim dividend of Rs 2,441.45 crore paid by LIC in March 2024.

(With inputs from agencies.)