Indian Oil pays dividend of Rs 5,091 crore to Govt

DIPAM Secretary on Thursday said that the Government has received about Rs 5,091 crore from Indian Oil as dividend tranche

New Delhi: The Government has received about Rs 5,091 crore from Indian Oil Corp as dividend, the Department of Investment and Public Asset Management (DIPAM) said on Thursday.

The "Government has received about Rs 5,091 crore from Indian Oil Corporation Ltd (IOCL) as dividend tranche," DIPAM Secretary Tuhin Kanta Pandey said in a post on X.

During the current financial year 2024-25, so far Rs 10,604.74 crore has been obtained through dividend from the CPSEs.

This include Rs 40 crore from Electronics Corporation of India Ltd (ECIL), Rs 554 crore from Power Finance Corp, and Rs 3,443 crore from Telecommunications Consultants India Ltd (TCIL) as special dividend.

In the current fiscal, the government has budgeted to collect Rs 56,260 crore as dividend from public sector enterprises, up from Rs 50,000 crore in 2023-24 fiscal.

Separately, country's largest insurer Life Insurance Corporation (LIC) has paid a dividend of Rs 3,662.17 crore for FY2023-24.

"Smt @nsitharaman receives a dividend cheque of Rs 3,662.17 crore for FY 2023-24 from Shri Siddhartha Mohanty, MD & CEO - @LICIndiaForever," Finance Minister Nirmala Sitharaman's Office said in a post on X.

This amount is in addition to the interim dividend of Rs 2,441.45 crore paid by LIC earlier in March 2024.