Economics
India Government Eyes RBI Payout to Cushion Yawning Budget Gap
- RBI board meets Friday, dividend payout usually made in August
- Last year saw central bank hand a record amount to government
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India’s Finance Minister Nirmala Sitharaman can expect another payout from the central bank in coming weeks, but it’s unlikely to plug a huge government revenue hole created by the pandemic.
The Reserve Bank of India’s board, led by Governor Shaktikanta Das, is meeting Friday, and since August is typically the month the central bank makes its annual transfer to the government, expectations are running high that the RBI will disclose its dividend payout.