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RBI expected to pay government up to Rs 40,000 crore interim dividend

Posted on:08 Jan 2019 12:19:33
RBI expected to pay government up to Rs 40,000 crore interim dividend
08 January 2019 Current Affairs: The Reserve Bank of India (RBI) is likely to transfer an interim dividend of up to Rs 30,000 crore to Rs 40,000 crore ($4.32 billion-$5.8 billion) to the government by March.
The funds are crucial to meet the fiscal deficit target of 3.3 percent of the GDP for the financial year ending in March, as the government's revenue shortfall may be as high as Rs 1 lakh crore.
The Reserve Bank of India (RBI) is likely to transfer an interim dividend of up to Rs 30,000 crore to Rs 40,000 crore ($4.32 billion-$5.8 billion) to the government by March.
The funds are crucial to meet the fiscal deficit target of 3.3 percent of the GDP for the financial year ending in March, as the government's revenue shortfall may be as high as Rs 1 lakh crore.

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