The Finance Ministry disclosed that as of December 4, the central government has collected a significant dividend receipt of Rs 26,644 crore from the Central Public Sector Enterprises (CPSEs) in the ongoing fiscal year.
Highlighting a trend of escalating dividend payouts, the Ministry noted that CPSEs have consistently surpassed the revised budget estimates in the fiscal years 2020-21, 2021-22, and 2022-23. Entities like ONGC, OIL India, NTPC, and Coal India stand out among the contributors, boosting government revenues and aiding in managing the fiscal deficit.
These increased dividends from CPSEs play a pivotal role in fortifying government finances, enabling a reduction in the fiscal deficit. The government expressed confidence in attaining its fiscal deficit target of 5.9% of the Gross Domestic Product (GDP) for the fiscal year 2023-24, as revealed in Parliament earlier this week.
Official figures indicate that the fiscal deficit for the first seven months of the current fiscal year, concluding on March 31, 2024, amounted to Rs 8.04 lakh crore, representing 45% of the estimated deficit for the entire year. This underscores the ongoing efforts to manage and control the fiscal deficit within the targeted range.
(With Agency Inputs)
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