Rs 7,737 crore paid to national exchequer by SAIL | business | Hindustan Times
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Rs 7,737 crore paid to national exchequer by SAIL

Public sector Steel Authority of India Limited (SAIL) has contributed Rs 7,737 crore to the national exchequer during the first nine months of 2010-11.

business Updated: Mar 04, 2011 13:36 IST

Public sector Steel Authority of India Limited (SAIL) has contributed Rs 7,737 crore to the national exchequer during the first nine months of 2010-11.

The high figure included excise and customs duties, corporate tax and royalties, RSP sources said here today.

Along with Rs 80.74 crore as dividend tax, the total payment made by SAIL with respect to interim dividend to the government works out to Rs 506.10 crore.

Union steel minister Beni Prasad Verma handed over a cheque for Rs 425.36 crore to Prime minister Manmohan Singh towards interim dividend on February 28, 2011.

The government holds 85.82 per cent of SAIL's total paid up equity capital of Rs.4,130,40 crore, they said.

The Board of Directors of SAIL will recommend final dividend for 2010-11 while approving the financial results for the year in the first quarter of financial year 2012. After obtaining the approval of shareholders, final dividend would be paid to the government and other shareholders of the company.