The Modi government is expected to benefit from the growing profitability of state-owned PSUs with dividend receipt in 2023-24 likely to cross the budgeted revised estimates (RE) by about 24 per cent to Rs 62,000 crore.

The government has so far garnered Rs 61,308.80 crore as dividend receipt for 2023-24, according to the latest data of the Department of Investment and Public Asset Management (DIPAM).

Officials are confident the collections will cross the Rs 62,000-crore mark in the remaining days of the fiscal.

While presenting the Union budget for 2023-24, finance minister Nirmala Sitharaman had estimated earnings of Rs 43,000 crore through ‘Dividends from Public Sector Enterprises and other investments’.

However, this was revised upward to Rs 50,000 crore.

Officials said the dividend receipt collection in the current fiscal will be at an all-time high and it would be the third successive year that the government would be getting Rs 50,000 crore plus.

Divestment slip

With disinvestment receipts likely to fall short of the revised target of Rs 30,000 crore in 2023-24, the extra dividend receipts would cover the shortfall to an extent.

The government has so far this year raised a paltry sum of about Rs 14,737 crore through disinvestment, with more than half of it coming from a 3 per cent stake sale in Coal India Ltd through an offer for sale.