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Das Capital | RBI rides to the rescue

Will the government use this fiscal space to reduce fiscal deficit or will it boost spending by more than what has been budgeted?

August 27, 2019 / 11:19 AM IST
Das Capital | RBI rides to the rescue

Reserve Bank of India (RBI) Governor Shaktikanta Das

The Shaktikanta Das-led Reserve Bank of India has just handed a bonanza to the government. The central bank’s board has decided to transfer Rs 1.76 lakh crore to the government – with about Rs 1.23 lakh crore being its surplus for 2018-19 and another Rs 52,637 crore of excess provisions identified by the Bimal Jalan panel. Now, remember that the RBI had already transferred Rs 28,000 crore as interim dividend in February 2019 (which goes towards 2018-19 revenues for the...

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