Govt seeks Rs 10,000-cr interim dividend from RBI to fix fiscal gap

The central government has demanded Rs 10,000 crore as interim dividend from the Reserve Bank of India (RBI) for financial year 2019-20 (FY20) to bridge the fiscal gap, sources said. This is the third consecutive year when the government has demanded interim dividend. This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government’s demand and might decide on this .....

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