Rs7,737 crore paid to national exchequer by Steel Authority of India

Public sector Steel Authority of India Limited (SAIL) has contributed Rs7,737 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 Rs80.74 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 Rs425.36 crore to Prime minister Manmohan Singh towards interim dividend on February 28, 2011.

The government holds 85.82% of SAIL's total paid up equity capital of Rs4,130,40 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.