India likely to surpass FY24 target for state-run firms’ dividends by at least $1.4 billion – source

The Indian government will likely exceed its fiscal year target for dividends from state-run companies by at least 120 billion rupees ($1.4 billion), partly offsetting an expected shortfall from share sales, a government source aware of the matter said on Thursday. The dividend receipts could range from 550 billion rupees to as much as 600 billion rupees, the source said, potentially topping not only the government's target of 430 billion rupees for the April-March fiscal year but also the 595 billion rupees it collected in dividends last fiscal year. So far this fiscal, India has received 438 billion rupees in dividends from state-owned firms, according government data.