Dividend from non-financial CPSEs at ₹63,749 crore

The government's dividend collections from non-financial central public sector enterprises (CPSEs) and entities in which it holds minority stakes scaled a new peak of ₹63,749 crore in 2023-24, showed the Department of Investment and Public Asset Management (DIPAM) data released on Monday.

The dividend revenue represents an increase of about 27.5% over the revised estimate of ₹50,000 crore for the financial year and beats the earliest best of ₹59,533 crore in 2022-23, reflecting strong performance by state-run firms across sectors. Dividend receipts in March alone totalled almost ₹12,200 crore.

Disinvestment Revenue


Meanwhile, disinvestment proceeds in 2023-24 fell just short of expectations and touched ₹16,507 crore, mainly as the IDBI Bank sell-off process spilled over to this fiscal. The government had factored in a disinvestment revenue of ₹18,000 crore in the revised estimate for 2023-24, DIPAM secretary Tuhin Kanta Pandey had said after the interim budget in February.

In the absence of any strategic sale, the divestment proceeds were generated through the government's dilution of minor stakes in 10 entities, mostly via the offer for sale (OFS) route. These include the OFS of Coal India (₹4,186 crore), NHPC (₹2,488 crore), NLC India (₹2,129 crore), Rail Vikas Nigam (₹1,366 crore), SJVN (₹1,349 crore) and IRCON International (₹1,193 crore). The IPO of Indian Renewable Energy Development Agency fetched ₹858 crore.