It's raining dividends for Centre as Coal India pays ₹3,668 crore

The Centre’s earnings from dividends of public sector enterprises has crossed ₹33,000 crore for the financial year 2021-22 (April-March). In a latest, the government got ₹3,668 crore from Coal India as dividend tranche.

It is a gain of about Rs 13,000 crore in a month since the government’s dividend earnings on November 25, 2021, was Rs 20,222.40 crore. As on December 25, the total proceeds from dividend from public sector enterprises for FY22 is over ₹33,479 crore.

The Government of India has set a target of ₹1.75 lakh crore from disinvestment proceeds in the current financial year.

“Government has received about ₹3668 crore from Coal India Ltd and ₹21 crore from Telecommunications India Ltd as dividend tranches,” secretary of the department of investment and public asset management (DIPAM) Tuhin Kanta Pandey said in a Twitter post Friday evening.

Pandey also disclosed that the government received about ₹48 crore, ₹69 crore and ₹23 crore from IRCON, RITES and NIIFL respectively as dividend tranches.

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The total proceeds of disinvestment and dividends has reached ₹42,809.48 crore, of which about ₹9,000 crore has come from divestment of strategic and non-strategic sales, The Mint reported.

Aiming to collect ₹1.75 lakh crore from disinvestments and dividends this fiscal, the government expects more dividends from divestment of Shipping Corporation of India, BPCL, BEML and Pawan Hans.

In November, the government got Rs 2,424 crore as dividend tranche from Indian Oil Corporation (IOC).