CPSEs to invest Rs. 176398 crore in 2012-13
17 Central Public Sector Enterprises (CPSEs) have projected an investment of Rs. 176398 crore during 2012-13 in domestic sector and in overseas assets. These investments are likely to have a positive impact on the financial performance of the CPSEs in the long run.
As per extant guidelines, profit making CPSEs are required to declare a minimum dividend on equity of 20% or a minimum dividend pay-out of 20% of post tax profits, whichever is higher. The minimum dividend pay-out in respect of Oil, Petroleum, Chemical and Infrastructure Sector should be 30% of the post tax profits. Dividend received by the Government from CPSEs forms part of non-tax revenue receipts of the Government and thus contributes towards reducing the fiscal deficit.
The above information was given by the Minister for Heavy Industries & Public Enterprises Shri Praful Patel in a written reply in the Lok Sabha today.
No comments:
Post a Comment