NEW DELHI: The Union government has received Rs 903 crore and Rs 78 crore from the Indian Railway Finance Corporation Ltd (IRFC) and RITES Ltd respectively, as dividend tranches.
The information was tweeted by the Department of Investment and Public Asset Management (DIPAM) via the account of DIPAM Secretary Tuhin Kanta Pandey.
It also said that dividend tranches totaling Rs 503 crore and Rs 66 crore, respectively, had also been received from Hindustan Aeronautics Ltd (HAL) and Rashtriya Chemicals and Fertilizers Ltd (RCFL). Public sector enterprises (PSUs) are obligated to pay the government an annual minimum dividend equal to 30% of their earnings or 5% of their net worth, whichever is higher. Government spending historic amounts on modernising railroad infrastructure.
As per earlier reports, on October 21, the government had also received Rs.1,203 crore as dividend tranches from five CPSEs, including SAIL, HUDCO and IRCTC. The government has further received a total of Rs 14,778 crore from public sector enterprises like SAIL, HUDCO and others.
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