In a significant financial boost for the state exchequer, three public sector undertakings (PSUs) operating in Odisha's agriculture sector collectively paid a dividend of Rs 6.39 crore to the state government on Tuesday. The symbolic cheque handover ceremony marked a formal recognition of these corporations' profitable performance and their contribution to the state's resources.
Breakdown of Dividend Contributions from Each Corporation
The total sum of Rs 6.39 crore was contributed by three distinct state-owned corporations, each for different financial years, reflecting sustained profitability. The Odisha Agro-Industries Corporation (OAIC) made the largest contribution, paying Rs 5.23 crore for the financial year 2023-24. This substantial amount underscores OAIC's pivotal role in the state's agro-industrial landscape.
The second contributor was the Odisha State Cashew Development Corporation (OSCDC), which paid Rs 93.02 lakh. This payment covered dividends for two consecutive financial years: 2022-23 and 2023-24. The third entity, the Odisha State Seeds Corporation (OSSC), contributed Rs 23.20 lakh specifically for the financial year 2021-22.
Official Ceremony and Regulatory Framework
The dividend cheque was formally presented to Deputy Chief Minister Kanak Vardhan Singh Deo, who also holds the portfolio of Agriculture Minister. The event took place at Lok Seva Bhavan in Bhubaneswar. Senior bureaucrats, including Principal Secretary Arabinda Kumar Padhee, were present during the ceremony, highlighting the administration's focus on the agriculture sector's financial health.
This dividend payout is not discretionary but follows a clear mandate from the state's finance department. According to official circulars, all state PSUs are required to pay 30% of their profit after tax (PAT) as an annual dividend to the government. This policy ensures a regular flow of funds from profitable public enterprises back to the state, which can then be reinvested in public welfare and development projects.
Implications for Odisha's Agricultural Sector and State Finances
The successful dividend payment by these three corporations signals robust operational management and financial stability within Odisha's agri-based public sector. It demonstrates that these entities are not only fulfilling their developmental mandates but are also operating on commercially viable lines.
For the state government, this inflow of Rs 6.39 crore represents non-tax revenue that can be allocated to various schemes. It reinforces the financial model where state-owned enterprises contribute directly to the treasury, creating a cycle of investment and return. The healthy performance of these PSUs, especially the Odisha Agro-Industries Corporation, is a positive indicator for the overall agro-economy of the state, suggesting effective implementation of policies and market operations.
The event underscores the government's dual focus: promoting agricultural development through specialized corporations while ensuring these bodies maintain fiscal discipline and profitability for the benefit of the state and its people.
