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RBI Eases India Government Finances With $14 Billion Payout

  • Amount is higher than what was budgeted by government
  • Government targets fiscal deficit of 6.8% of GDP this year

Photographer: Punit Paranjpe/AFP/Getty Images

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India’s central bank approved paying a higher-than-expected nearly $14 billion as dividend to the government, providing relief to Finance Minister Nirmala Sitharaman at a time when the pandemic has strained public finances.