RBI to transfer Rs 50,000 crore surplus to govt

What may be seen as a huge fiscal boost to the government, the Reserve Bank of India today decided to transfer a surplus of Rs 50,000 crore to the government.While the amount was budgeted at Rs 45,000 crore by the government, the extra Rs 5,000 crore will be a huge boost to the exchequer. The Central Board of Directors of the Reserve Bank of India, at its meeting held on August 8, 2018, approved the transfer of surplus amounting to Rs 50,000 crore for the year ended June 30, 2018 to the Government of India.

from The Economic Times https://ift.tt/2OmJmbA