In a significant boost to Odisha’s economic landscape, three key public sector undertakings (PSUs) under the Department of Agriculture and Farmers’ Empowerment have collectively paid a dividend of Rs 6 crore 39 lakh 97 thousand 589 to the state government.
This payout aligns with the guidelines under Section 123 of the Indian Companies Act, 2013, and directives from the Finance Department’s circulars, which mandate PSUs to distribute 30% of their Profit After Tax (PAT) as annual dividends.
The dividend was formally presented during a ceremony at Lok Seva Bhavan, graced by Deputy Chief Minister and Minister for Agriculture and Farmers’ Empowerment, Energy, Kanak Vardhan Singh Deo.
The contributions break down as follows: Odisha Agro-Industries Corporation (OAIC) paid Rs 5 crore 23 lakh 74 thousand 222 for the financial year 2023-24; Odisha State Seeds Corporation Limited (OSSC) contributed Rs 23 lakh 20 thousand 967 for 2021-22; and Odisha State Cashew Development Corporation Limited (OSCDC) disbursed Rs 93 lakh 02 thousand 400, covering Rs 46 lakh 51 thousand 200 each for the financial years 2022-23 and 2023-24.
These PSUs, which have demonstrated strong financial performance, play a pivotal role in advancing Odisha’s agricultural sector. By focusing on sustainable development and farmer empowerment, they have not only generated profits but also created opportunities for farmers across the state. OAIC supports agro-industrial initiatives, OSSC ensures quality seed distribution, and OSCDC promotes cashew cultivation and processing, collectively contributing to economic growth and rural prosperity.
The event highlighted the corporation’s commitment to fiscal responsibility, with a symbolic cheque presented to Dy CM Singh Deo. In attendance were the Principal Secretary and Chairman of the Corporations under Agriculture and Farmers’ Empowerment, Dr Arabinda Kumar Padhee, along with Managing Director of OSCDC, Subrat Kumar Panda, Managing Director of OSSC, Niti Ranjan Sen, and other officials from OAIC.
This dividend payout underscores the Odisha government’s efforts to strengthen its PSUs, ensuring they remain profitable entities that support the state’s sustainable development goals while empowering its agricultural community.
