{"id":264277,"date":"2019-03-14T07:14:38","date_gmt":"2019-03-14T07:14:38","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=264277"},"modified":"2019-03-14T07:17:36","modified_gmt":"2019-03-14T07:17:36","slug":"facing-revenue-shortfall-govt-pushes-ioc-ongc-to-pay-2nd-interim-dividend-2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/facing-revenue-shortfall-govt-pushes-ioc-ongc-to-pay-2nd-interim-dividend-2\/","title":{"rendered":"Facing revenue shortfall, Govt pushes IOC, ONGC to pay 2nd interim dividend"},"content":{"rendered":"<p>NEW DELHI: Grappling a shortfall in tax revenues, the government has pressed cash-rich PSUs like Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) to pay a second interim dividend for the current fiscal after seeking regulatory nods.<\/p>\n<p>While IOC has called a board meeting on 19 March to consider paying a second interim dividend, ONGC has declined saying it does not have surplus cash to make such payments within a month of an interim dividend payout, sources with direct knowledge of the development said.<\/p>\n<p>As per regulations, a company cannot declare a second dividend within a month of the previous payout and companies like ONGC would need to seek an approval of the market regulator SEBI to make such a payment.<\/p>\n<p>Sources said the government is struggling to meet the revised fiscal deficit target of 3.4 % in view of shortfall in Goods and Services Tax (GST) collections.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Grappling a shortfall in tax revenues, the government has pressed cash-rich PSUs like Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) to pay a second interim dividend for the current fiscal after seeking regulatory nods. While IOC has called a board meeting on 19 March to consider paying a second interim dividend, ONGC has declined saying it does not have surplus cash to make such payments within a month of an interim dividend payout, sources with direct knowledge of the development said. As per regulations, a company cannot declare a second dividend within a month [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-264277","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/264277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=264277"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/264277\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=264277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=264277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=264277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}