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RBI's Rs. 2.11 trn dividend shores up near-term support to fiscal performance
The Business Guardian
|May 28, 2024
The larger than expected (RBI) dividend to the Government should help to ensure that the 5.1 per cent of GDP deficit target for the fiscal year ending March 2025 (FY25) will be met and could be used to lower the deficit beyond the current target, Fitch Ratings said on Monday.
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The RBI recently announced a record-high dividend transfer of Rs. 2.11 trillion the Government equivalent to 0.6 per cent of GDP (Rs 2.1 trillion) from its operations in FY24. This is above the 0.3 per cent of GDP expected in the FY25 Budget from February and hence will aid the authorities in meeting near-term deficit reduction goals. An important driver of higher RBI profits appears to be higher interest revenue on foreign assets, though the central bank has not yet provided a detailed breakdown.
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FLERE HISTORIER FRA The Business Guardian
The Business Guardian
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