Budget 2023: Govt expects dividend of Rs 48,000 cr from RBI, PSU banks in FY24

The government expects 17 per cent higher dividend at Rs 48,000 crore from the Reserve Bank of India (RBI), public sector banks and financial institutions in 2023-24.

In current financial year ending March, it aims to garner Rs 40,953 crore from RBI and public sector financial institutions. This is much lower compared to Budget Estimate of Rs 73,948 crore for FY23.

It is to be noted that RBI approved a dividend payment of Rs 30,307 crore to the government post its board meeting in May 2022.

As per the Budget document, dividends from public sector enterprises and other investments have been pegged at Rs 43,000 crore for FY24 as well.

As per the Revised Estimate for FY23, the dividend from public sector enterprises and other investments was higher at Rs 43,000 crore from the Budget Estimate of Rs 40,000 crore.

Total dividend collection of the next financial year would be Rs 1,15,820 crore as against the RE of Rs 1,08,592 crore, as per the RE of 2022-23.