The Union Budget for 2022-23 has pegged the receipts from dividends from central public sector enterprises (CPSEs) at Rs 40,000 crore.
A total of 63 companies are part of the Nifty 500 index that are partially or majorly owned by the central government.
In 2021-22, the Budget had pegged receipts from dividends of CPSEs at Rs 50,027 crore. The revised Budget estimate for dividends from CPSEs was at Rs 46,000 crore.
In 2020-21, when the pandemic struck the economy, 45 PSU companies paid dividends of more than Rs 46,000 crore to the government, according to data on AceEquity. The government had budgeted for dividends worth Rs 65,746 crore but trimmed it down to Rs 34,717 crore in its revised estimate.
Budget 2022: Catch all the updates here
The government had in 2016 tweaked the dividend distribution policy of PSU entities by asking them to pay 30 percent of post-tax profit or 5 percent of net worth, whichever is higher, as dividend every year.
Several central undertakings are expected to report dividends in the December quarter and March quarter earnings announcements. In the first nine months of FY22, nine government-owned entities have reported a total net profit of Rs 28,712 crore.
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