Mukesh Ambani draws no salary for third year now; avails no allowances, stock options, other benefits

In June, 2020, Mukesh D. Ambani, the Chairman and Managing Director, Reliance Industries had voluntarily determined to forego his salary for year 2020-21, in gentle of the COVID-19 outbreak in India, which exacted an enormous toll on the societal, financial and industrial well being of the nation.

He continued to forego his salary in year 2021-22 in addition to in year 2022-23.

In all these three years, Mukesh Ambanididn’t avail any allowances, perquisites, retiral benefits, fee or stock choices from Reliance for his function because the Chairman and Managing Director.

Prior to that, the Chairman and Managing Director had his salary capped at Rs 15 crore since 2008-09 with a purpose to set a private instance of moderation in managerial compensation ranges.

Reliance Industries is one in every of India’s largest contributors to the nationwide exchequer. Reliance’s consolidated contribution to the nationwide exchequer crossed Rs 5 lakh crore within the three years from FY21 to FY23.

Reliance’scontribution to nationwide exchequer stood at Rs 177,173 crore in FY23, marginally down from Rs 188,012 crore of FY22.

The firm continues to be the biggest taxpayer in India, contributing Rs 1,77,173 crore to the nationwide exchequer by the use of numerous direct and oblique taxes, talked about the annual report.

This was over 5 per cent of Indian authorities’s budgeted expenditure for final three years

Reliance Industries Limited issued its Annual Report for FY23 on Saturday.

The firm will likely be holding its Annual General Meeting on Monday, August 28.

Among other issues, the RIL Annual Report talked about concerning the progress made by all its enterprise verticals viz. Retail, Digital Services, O2C and E&P, and spoke about RIL’s intentions within the Green Energy area.

(With inputs from IANS)