The Government of India has received approximately Rs 2,413 crore 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.
DIPAM Secretary Tuhin Kanta Pandey announced the dividend payment on X (formerly Twitter), highlighting the significant contribution from BPCL to the government’s fiscal receipts. The dividend received from BPCL is part of the government’s broader strategy to boost revenue from public sector enterprises (CPSEs) in the 2024-25 financial year.
So far in the current fiscal year, the government has collected Rs 15,389.14 crore in dividends from various CPSEs. This total includes Rs 5,091 crore from Indian Oil Corporation (IOC), Rs 40 crore from Electronics Corporation of India Ltd (ECIL), Rs 554 crore from Power Finance Corporation (PFC), and Rs 3,443 crore from Telecommunications Consultants India Ltd (TCIL) as a special dividend.
For the ongoing fiscal year, the government has set a target of Rs 56,260 crore in dividends from public sector enterprises, marking an increase from the Rs 50,000 crore targeted in the previous fiscal year 2023-24.
In a related development, Life Insurance Corporation (LIC), the country’s largest insurer, recently paid a substantial dividend of Rs 3,662.17 crore for the financial year 2024. This amount is in addition to the interim dividend of Rs 2,441.45 crore paid by LIC in March 2024.
