In a major boost to government finances, State Bank of India (SBI) presented a massive dividend cheque of Rs 8,076.84 crore to Finance Minister Nirmala Sitharaman for FY 2024-25. The handover, witnessed by senior officials, highlights the stellar performance of India’s public sector giants amidst growing economic momentum. This substantial contribution comes at a crucial time as the government looks to strengthen its fiscal position.
Leading the PSU success wave, SBI reported an annual net profit of Rs 70,901 crore, while insurance behemoth LIC posted Rs 48,151 crore. The energy and power sectors also shined, with Coal India (Rs 9,604 crore), NTPC (Rs 7,897 crore), and Power Finance Corporation (Rs 8,358 crore) delivering impressive quarterly profits. These robust numbers underscore how India’s public enterprises are becoming significant growth drivers.
The dividend windfall and rising corporate tax contributions from PSUs are proving invaluable for national development. With fiscal discipline on track—the 4.8% deficit target met—and PSUs fueling infrastructure growth through ambitious capex plans, this public sector resurgence is creating a virtuous cycle of economic progress and job creation.