Government receives Rs 24.13 billion dividend from BPCL

04 Sep 2024 CW Team

The government has received approximately Rs 24.13 billion in dividends from the oil Public Sector Undertaking (PSU) Bharat Petroleum Corporation Limited (BPCL), according to a statement from the Department of Investment and Public Asset Management (DIPAM) on Monday. "The government has received about Rs 24.13 billion from BPCL as a dividend tranche," DIPAM Secretary Tuhin Kanta Pandey announced in a post on X (formerly Twitter).

So far, in the financial year 2024-25, the government has collected Rs 153.89 billion in dividends from Central Public Sector Enterprises (CPSEs). This includes Rs 50.91 billion from Indian Oil Corporation (IOC), Rs 400 million from Electronics Corporation of India Ltd (ECIL), Rs 5.54 billion from Power Finance Corporation, and a special dividend of Rs 34.43 billion from Telecommunications Consultants India Ltd (TCIL).

The government has set a target to collect Rs 562.6 billion in dividends from public sector enterprises for the current fiscal year, up from Rs 500 billion in the 2023-24 fiscal year. Additionally, the Life Insurance Corporation (LIC), the country's largest insurer, paid a dividend of Rs 36.62 billion for FY24 last week, which is in addition to the interim dividend of Rs 24.41 billion paid by LIC in March 2024.

(ET)

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