The government expects to receive Rs 73,948 crore as dividend from the Reserve Bank of India (RBI) and state-run lenders in FY23, according to Budget estimates.
At Rs 73,948 crore, the budgeted dividend revenue for the next financial year from the central bank and PSU banks is a massive 27 percent lower than the revised estimate of Rs 1.01 lakh crore for FY22.
The revised estimate was higher by a huge 89.4 percent after the RBI transferred a dividend of Rs 99,122 crore in FY22.
The lower Budget estimate for FY23 is puzzling because the RBI's dividend was for a truncated nine-month financial year.
In 2020, the central bank moved from a July-June accounting year to April-March to align its financial year with that of the government's. July 2020 to March 2021 was a nine-month transition period.
The dividend the RBI will transfer to the government for FY22, likely in May 2022, will be a for a full 12-month financial year.
| Year | RBI dividend to Centre (in Rs crore) |
| FY14 | 33,010 |
| FY15 | 52,679 |
| FY16 | 65,896 |
| FY17 | 65,876 |
| FY18 | 30,659 |
| FY19 | 50,000 |
| FY20 | 1,75,988 |
| FY21 | 57,128 |
| FY22 | 99,122 |
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