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Robust RBI dividend to create ₹70,000-cr extra fiscal space
Financial Express Pune
|May 24, 2025
THE RECORD HIGH dividend payout by the Reserve Bank of India at ₹2.69 lakh crore — about ₹50,000 crore more than what was factored into the Union Budget for FY26 — could help the government reduce the fiscal deficit further or spend more to boost economic activity.
Including dividends from public sector financial institutions, total dividend receipts in FY26 could exceed the budgeted target by around ₹70,000 crore.
RBI dividend has been a major source of non-tax revenues for the Centre, with its share rising from 10.6% in FY23 to 46.1% in FY26. The RBI had paid a dividend of ₹2.1 lakh crore in FY25 as against the budget estimate of ₹80,000-90,000 crore, helping the Centre revise down the fiscal deficit for the year to 4.8% of GDP from 4.9%.
This story is from the May 24, 2025 edition of Financial Express Pune.
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