Finance Minister Piyush Goyal, in his annual budget for FY20 tabled in parliament last week, estimated to get Rs 82,911 crore rupees through dividend from banks, financial institutions and the Reserve Bank of India next financial year.
The government has budgeted a dividend of Rs 69,000 crore in FY20 from the Reserve Bank of India (RBI), according to an official quoted in a CNBC-TV 18 report on February 5.
The government also budgeted a Rs 68,000 crore dividend from the central bank for FY 19. The report also quoted the official saying the government tapped into the unused compensation cess fund to bridge a shortfall of Rs 29,000 crore in the FY19 CGST collection.
The report also noted that the government was expecting to close FY19 with a surplus in the compensation cess kitty, and the unused surplus in the compensation cess kitty was shared equally between the centre and the states.
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