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Govt Expects Dividend of Rs 48,000 cr From RBI, PSU Banks in FY24
As per the Budget document, dividends from public sector enterprises and other investments have been pegged at Rs 43,000 crore for FY24 as well.
Highlights
- The govt. expects 17% higher dividend from RBI, PSB & financial institutions.
- For the current fiscal year ending in March, it aims to garner Rs 40,953 cr.
- The total dividend collection of the next financial year would be Rs 1,15,820 crore.
New Delhi: The government expects a 17 percent higher dividend at Rs 48,000 crore from the Reserve Bank of India (RBI), public sector banks, and financial institutions in 2023-24. In the current financial year ending March, it aims to garner Rs 40,953 crore from RBI and public sector financial institutions.
This is much lower compared to the Budget Estimate of Rs 73,948 crore for FY23. It is to be noted that RBI approved a dividend payment of Rs 30,307 crore to the government posts its board meeting in May 2022. (Also Read: Indian Economy Size Increases to 5th Largest From 10th Largest in World: FM Sitharaman)
As per the Budget document, dividends from public sector enterprises and other investments have been pegged at Rs 43,000 crore for FY24 as well. (Also Read: Union Budget 2023: Insurance Policies Where Premium is Above Rs 5 Lakh no More Tax Exempt)
As per the Revised Estimate for FY23, the dividend from public sector enterprises and other investments was higher at Rs 43,000 crore than the Budget Estimate of Rs 40,000 crore.
The total dividend collection of the next financial year would be Rs 1,15,820 crore as against the RE of Rs 1,08,592 crore, as per the RE of 2022-23.