SATURDAY, JUNE 14, 2025
SBI pays INR 8,077 crore as dividend to government for FY 2024-25
Published on Jun 9, 2025
By IANS
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- NEW DELHI — Union Finance Minister Nirmala Sitharaman on Monday received a dividend cheque of INR 8,076.84 crore on behalf of the government from the State Bank of India (SBI) for the financial year 2024-25.
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- The cheque was presented to the Finance Minister by SBI chairman CS Setty at her office in the presence of senior officials.
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- "Smt @nsitharaman receives a dividend cheque of Rs 8076.84 crore for FY 2024-25 from CS Setty, Chairman - @TheOfficialSBI," Nirmala Sitharaman Office posted on social media platform X.
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- The robust dividend came as India’s top public sector companies in the financial, power and energy sectors have recorded a robust growth in profit during the January-March quarter of 2024-25, which is expected to further strengthen the government’s fiscal position.
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- The country’s largest lender SBI and insurance giant Life Insurance Corporation of India (LIC) led the charge with a net profit of INR 18,643 crore and INR 19,013 crore, respectively. SBI’s net profit for the financial year 2024-25 has now soared to INR 70,901 crore while LIC has recorded an impressive net profit of INR 48,151 crore for the year.
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- In the energy sector, Coal India earned a net profit of INR 9,604 crore during the fourth quarter while Indian Oil Corporation (IOC) registered a net profit of INR 7,265 crore with upstream oil exploration giant ONGC registering a net profit of INR 6,448 crore during the quarter.
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- In the power sector, the country’s largest electricity producer, NTPC recorded a net profit of INR 7,897 crore while Power Finance Corporation (PFC), which also comes under the Ministry of Power, earned a robust INR 8,358 crore. Power Grid Corporation of India also registered a strong profit of INR 4,143 crore during the Jan-March quarter.
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- Apart from higher contributions to the government’s finances through higher dividends, the large public sector enterprises boost revenue by higher payments of corporate taxes.
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- Besides, the large capex plans of these government-owned enterprises play a key role in driving growth and creating jobs in the economy.
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- Meanwhile, the government has succeeded in meeting its fiscal deficit target for 2024-25 fixed at 4.8 per cent of the gross domestic product (GDP) in the revised budget estimate for the year, data released by the Controller General of Accounts showed recently.
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- According to the CGA data, the central government collected INR 30.36 lakh crore as revenue as both tax and non-tax receipts which works out to 98.3 per cent of the revised Budget Estimates (RE). The earnings of PSUs constitute an important part of these non-tax receipts.
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