- The Reserve Bank of India (RBI) has approved a payout of rupees 1,76,000 crore dividend and surplus reserves to the central government.
- The record transfer, including a surplus of Rs 1,23,414 crore for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF).
- It will boost the government's finances at a time it strives to tackle a nearly five-year low economic growth with lakhs of estimated job cuts across sectors, and defend its ambitious target of containing fiscal deficit at 3.3% of the GDP.
Published On : 27 Aug 2019
Current Affair
