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Relief for state owned oil firms as they pay 16 percent less dividend income category
March 16, 2018

Relief for state owned oil firms as they pay 16 percent less dividend income

State owned oil firms will be paying 16% less dividend income to the government in FY2018. This development occurred as the government gained Rs. 37,000 crore from sale of its stake in Hindustan Petroleum Corp. to ONGC. Oil firms happen to be biggest contributors of dividend income for the Indian government and must pay a minimum annual dividend of 30% of its net profit or 5% of its net worth.

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