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Key Points

Central PSUs have contributed a record Rs 4.85 lakh crore to India's exchequer in FY24, marking a 120% surge since 2013-14. SBI and LIC emerged as top performers with massive profits, while energy and power PSUs also posted strong growth. The Modi government's reforms have transformed PSUs into wealth creators, boosting their market cap significantly. Strategic autonomy and capital support have played a key role in this financial turnaround.

Key Points: India's PSUs Contribute Record Rs 4.85 Lakh Crore in FY24

  • SBI and LIC lead with Rs 70,901 crore & Rs 48,151 crore profits
  • Coal India and ONGC post strong Q4 earnings
  • PSU market cap surges under Modi govt reforms
  • Power and energy firms drive financial growth
2 min read

Central PSEs contribution to India's financial resources sees 120 pc surge in 11 years

Central PSEs boost India's financial resources by 120% in 11 years, with SBI and LIC leading profit growth under Modi govt reforms.

"In FY 2023-24, CPSEs contributed Rs 4.85 lakh crore, a 120% jump from FY 2013-14 - Finance Ministry"

New Delhi, June 16

The Central Public Sector Enterprises (CPSEs) have contributed a record Rs 4.85 lakh crore to India’s financial resources in FY2023- 2024, a 120 per cent increase from Rs 2.20 lakh crore in FY 2013-2014, the Finance Ministry said on Monday.

The Central government's resource optimisation measures have borne fruit, according to a ministry post on social media platform X.

"In FY 2023-24, the total contribution by the Central Public Sector Enterprises (CPSEs) to the Central Exchequer was Rs 4.85 lakh crore, a phenomenal increase of 120 per cent from Rs 2.20 lakh crore in the FY 2013-14," said the ministry.

Last week, Union Finance Minister Nirmala Sitharaman received a dividend cheque of Rs 8,076.84 crore on behalf of the government from the State Bank of India (SBI) for the financial year 2024-25.

Leading public sector companies in the financial, power and energy sectors recorded a strong growth in profit in Q4 FY25. The country’s largest lender, SBI and insurance giant Life Insurance Corporation of India (LIC) led the charge with a net profit of Rs 18,643 crore and Rs 19,013 crore, respectively.

The SBI’s net profit for the financial year 2024-25 has now soared to Rs 70,901 crore, while the LIC has recorded an impressive net profit of Rs 48,151 crore for the year.

Coal India earned a net profit of Rs 9,604 crore during the fourth quarter, while Indian Oil Corporation (IOC) registered a net profit of Rs 7,265 crore, with upstream oil exploration giant ONGC registering a net profit of Rs 6,448 crore during the quarter.

NTPC recorded a net profit of Rs 7,897 crore while Power Finance Corporation (PFC), which also comes under the Ministry of Power, earned a robust Rs 8,358 crore. Power Grid Corporation of India also registered a strong profit of Rs 4,143 crore during the January-March quarter.

The Prime Minister Narendra Modi-led government has strengthened India’s PSUs in the last 11 years, turning them into wealth creators and making them integral to the nation’s growth. With focused reforms, strategic autonomy, and capital support, PSU market cap surged across the energy, power, and infrastructure sectors.

- IANS

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Reader Comments

Here are 6 diverse Indian perspective comments for the article:
R
Rajiv K.
This is fantastic news! Our PSUs are finally becoming profit engines rather than burden on taxpayers. The 120% growth shows what good governance can achieve. Hope this money gets invested in infrastructure and social welfare schemes. 🇮🇳
P
Priya M.
While the numbers look impressive, I wonder how much of this profit is coming from increased prices rather than efficiency? Oil companies' profits soar when fuel prices rise - is this really sustainable growth?
A
Arjun S.
LIC and SBI numbers are mind-blowing! As a shareholder in both, I'm happy to see my investments doing well. But government should ensure these profits translate to better services for common people too.
S
Sunita R.
Good to see PSUs performing, but what about the employees? Are they getting fair wages and working conditions? Profit is good but shouldn't come at cost of worker welfare. Balance is important.
V
Vikram J.
These profits show why strategic PSUs should remain with government. Imagine if LIC was privatized - all this money would go to private pockets instead of nation building. Sometimes public sector is better!
N
Neha P.
Impressive numbers but I hope government uses this money wisely. We need better roads, schools and hospitals - not just flashy projects. The real test is how this translates to ground-level development. 🤞

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