CPSE dividend crosses Rs 50,000 crore for second consecutive year

The Centre has surpassed the Rs 50,000-crore mark in dividend receipts from central public sector enterprises (CPSEs) for the second consecutive year after receiving Rs 998 crore from NHPC.

In the revised estimates (RE), the Centre raised the dividend receipts from CPSEs to Rs 43,000 crore for FY23 against the Budget Estimates (BE) of Rs 40,000 crore. In FY22, the government had received Rs 59,000 crore as receipts from CPSEs.

During the current fiscal year (FY23) so far, Rs 50,279 crore has come as dividends from CPSEs.

“The government has received about Rs 998 crore from NHPC as a dividend tranche,” secretary, department of investment and public asset management (DIPAM) tweeted on Monday. 

During FY23 so far, Rs 31,106 crore has been obtained as disinvestment receipts against the RE of Rs 50,000 crore.

The government is expected to sell part of its stake in Hindustan Zinc (HZL) this fiscal year.

The transaction, if executed, could help the government meet its revised target of Rs 50,000 crore for FY23.

The higher receipts from dividend would act as a buffer for the government if it falls short in meeting its revised disinvestment target.

Last month, DIPAM secretary Tuhin Kanta Pandey told Business Standard that the disinvestment target of Rs 51,000 crore for FY24 is pragmatic but achieving it is a challenge. This is owing to uncertainties in the market.