Centre hopes dividend of Rs48,000 cr from RBI, PSU banks in FY24
Centre hopes dividend of Rs48,000 cr from RBI, PSU banks in FY24

NEW DELHI: The Central government anticipates 17% higher dividend at Rs 48,000 crore from the Reserve Bank of India (RBI), public sector banks (PSU) and financial institutions in 2023-24.

In the current financial year 2023-24, it aims to garner Rs 40,953 crore from Resthe erve Bank of India and public sector financial institutions. This is much lower compared to Budget Estimate of Rs 73,948 crore for FY23.

As per the Revised Estimate for FY2023, the dividend from public sector enterprises and other investments was greater at Rs 43,000 crore from the Budget Estimate of Rs 40,000 crore. As per the Budget document, dividends from public sector entities and other investments have been pegged at Rs 43,000 crore for FY2024 as well.

It is pertinent to note that Reserve Bank of India approved a dividend payment of Rs 30,307 crore to the government post its board meeting in May 2022.

Cumulative dividend collection of the next financial year would be Rs 1,15,820 crore as against the  Revised Estimates (RE) of Rs 1,08,592 crore, as per the RE of 2022-23.

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