In FY 2014, the government may surpass public sector enterprises' dividend targets by a minimum of $1.4 billion

In FY 2014, the government may surpass public sector enterprises' dividend targets by a minimum of $1.4 billion

In FY 2014, the government may surpass public sector enterprises' dividend targets by a minimum of $1.4 billion

According to the source, dividend collections might reach between Rs 550 billion and Rs 600 billion, which would be much more than the previous dividends received as well as the government's aim of Rs 430 billion for the April–March fiscal year. Over 595 billion rupees throughout the fiscal year.

According to a government source with knowledge of the situation, the Indian government will pay out at least 120 billion rupees ($1.4 billion) more in dividends from state-owned businesses than it had planned for the fiscal year, which would lower the anticipated share sales. A portion of the compensation will be given.

According to the source, dividend collections might reach between Rs 550 billion and Rs 600 billion, which would be much more than the previous dividends received as well as the government's aim of Rs 430 billion for the April–March fiscal year. Over 595 billion rupees throughout the fiscal year.

Government figures show that India has already received dividends from government-owned businesses totaling Rs 438 billion for the current fiscal year.

The increased dividend will help to make up for the government's income deficit from the sale of stock in state-run businesses.

According to the source, this fiscal year the government would not be able to generate even Rs 300 billion from share sales, a decrease of over 40%.

However, because tax receipts will be greater than anticipated, the government is expected to reach its budget deficit goal of 5.9% of GDP for 2023–2024, the source said.

An email and message from Reuters requesting comment were not immediately answered by India's finance minister.

Aditi Nair, an economist at ICRA, projects that the government would raise between Rs 300 billion and Rs 400 billion more in net tax income this fiscal year than it did last year.

From April to November, the Indian government's net tax income came to Rs 14.36 trillion, or 62% of the goal for the year.