Finance Minister Nirmala Sitharaman received a massive dividend cheque of Rs 8,076.84 crore from the State Bank of India (SBI) for FY 2024-25. The country’s largest public sector bank handed over the contribution during a meeting at the finance ministry, reinforcing the government’s revenue stream. This robust payout highlights SBI’s strong performance, with the bank registering an annual net profit of Rs 70,901 crore.
Public sector giants across banking, insurance, and energy have contributed significantly to the government’s coffers. Alongside SBI, LIC reported a net profit of Rs 19,013 crore for Q4, while energy players like Coal India and NTPC also posted healthy earnings. These dividends and corporate tax payments from state-run enterprises are playing a crucial role in strengthening India’s fiscal position.
The government’s fiscal health is further supported by disciplined spending and rising non-tax revenues. Recent data shows that the Centre has met its revised fiscal deficit target of 4.8% of GDP, backed by strong contributions from PSUs. With ambitious capex plans, these enterprises are not just boosting revenue but also driving economic growth and job creation.