Did SBI Pay Rs 8,077 Crore as Dividend to the Government for FY 2024-25?
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Synopsis
In a significant financial move, the State Bank of India has presented a dividend cheque of Rs 8,076.84 crore to the government for FY 2024-25. This highlights the robust performance of public sector enterprises and their essential role in bolstering government finances.
Key Takeaways
- State Bank of India paid Rs 8,076.84 crore as a dividend to the government.
- The cheque was presented by SBI Chairman CS Setty.
- SBI's net profit reached Rs 70,901 crore for FY 2024-25.
- Public sector enterprises significantly contribute to government finances.
- Government successfully met its fiscal deficit target of 4.8 percent.
New Delhi, June 9 (NationPress) On Monday, Union Finance Minister Nirmala Sitharaman was presented with a dividend cheque amounting to Rs 8,076.84 crore from the State Bank of India (SBI) for the fiscal year 2024-25. The cheque was handed over by SBI Chairman CS Setty at her office, with senior officials in attendance.
The official Twitter account of Nirmala Sitharaman’s office shared, "Smt @nsitharaman receives a dividend cheque of Rs 8076.84 crore for FY 2024-25 from CS Setty, Chairman - @TheOfficialSBI."
This substantial dividend reflects the strong performance of India's leading public sector enterprises across various sectors, including finance, energy, and power, which have reported impressive profits in the January-March quarter of 2024-25. Such performance is expected to bolster the government's fiscal standing.
As for the profits, SBI and Life Insurance Corporation of India (LIC) were at the forefront, posting net profits of Rs 18,643 crore and Rs 19,013 crore respectively. For the fiscal year 2024-25, SBI's net profit has climbed to Rs 70,901 crore, while LIC achieved a remarkable net profit of Rs 48,151 crore.
In the energy sector, Coal India reported a net profit of Rs 9,604 crore for the fourth quarter, while Indian Oil Corporation (IOC) and ONGC posted profits of Rs 7,265 crore and Rs 6,448 crore respectively during the quarter.
In the power sector, NTPC, India's largest electricity producer, recorded a net profit of Rs 7,897 crore, with Power Finance Corporation (PFC) earning Rs 8,358 crore and Power Grid Corporation of India achieving a profit of Rs 4,143 crore.
These large public sector enterprises not only contribute significantly to government finances through dividends but also enhance revenue via increased corporate taxes.
Additionally, the expansive capital expenditure plans of these government-owned entities are crucial in driving economic growth and creating job opportunities.
Recently released data from the Controller General of Accounts indicated that the government successfully met its fiscal deficit target for 2024-25, set at 4.8 percent of GDP. The central government generated Rs 30.36 lakh crore in total revenue, which represents 98.3 percent of the revised budget estimates, with public sector unit earnings playing a vital role in these non-tax revenues.
Point of View
It is crucial to recognize their contributions not only in terms of dividends but also corporate taxes and employment generation. This aligns with the government's broader economic objectives and fiscal management strategies.
NationPress
09/06/2025
Frequently Asked Questions
What is the amount of the dividend paid by SBI to the government?
The State Bank of India paid a dividend of Rs 8,076.84 crore to the government for the financial year 2024-25.
Who presented the dividend cheque to the Finance Minister?
The cheque was presented by CS Setty, the Chairman of SBI.
What was SBI's net profit for the financial year 2024-25?
SBI's net profit for the financial year 2024-25 stood at Rs 70,901 crore.
How does the dividend payment affect the government's finances?
The dividend payment strengthens the government's fiscal position and contributes significantly to its revenue.
What are the key sectors contributing to the profits of public sector enterprises?
Key sectors include finance, energy, and power, with notable profits reported during the January-March quarter of 2024-25.
