Exclusive: Indian government to seek central bank dividend lifeline amid revenue shortfall - sources
NEW DELHI - India’s government plans to push the central bank for a fiscal lifeline in the form of another interim dividend, as it struggles to meet its expenditure commitments amid a steep revenue shortfall, three sources directly aware of the matter said.
The fresh call comes just months after the Reserve Bank of India approved a 1.76 trillion rupees dividend payment to the federal government, including 1.48 trillion rupees for the current fiscal year. It earned a surplus of 1.23 trillion rupees in its last financial year, which was substantially higher than previous years.
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