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RBI transfers surplus dividend
August 11 , 2018
2300 days
969
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- The Reserve Bank of India (RBI) has transferred surplus (dividend) of Rs. 50,000 crores to Government for the year ended in June 2018.
- It is over 63% more than Rs 30,659 crore which it transferred in 2017.
- RBI surplus forms a sizeable chunk of revenue which government earns under the head of ‘non-tax’, which is mainly dividends distributed by state-owned firms.
- With this surplus, Centre’s prospect of meeting fiscal deficit target (pegged at 3.3% of gross domestic product this financial year) has improved based on fiscal consolidation and budget assumptions.
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