PSUs pay Rs 10,861cr interim dividend to govt

While ONGC, NTPC and Sail have declared interim dividends of Rs 3849.97 crore, Rs 1992.50 crore and Rs 673.49 crore respectively for 2007-08, IOC has not declared any interim dividend, Bansal added.

Dividend received by the government from public sector undertakings forms part of non-tax revenue receipts of the government and thus contributes towards reducing the fiscal deficit. In the absence of interim dividend receipts, augmentation of tax revenues, other non-tax revenues and non-debt capital receipts would be required to achieve the targeted fiscal deficit as mandated under the Fiscal Responsibility and Budget Management Act, 2003 for the year.