Govt's cash balance surges, banks starve indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
₹2.1 Lakh Cr: RBI's Record Dividend Swells Govt Coffers indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The benchmark bond yield retreated below 7% on expectations that New Delhi would now need to borrow less this fiscal year. “The higher dividend is welcome, of course,” finance secretary TV Somanathan told ET. “It exceeds our estimate by 0.2-0.3% of GDP.” In the interim budget, North Block had factored in receipts of Rs 1.05 lakh crore under dividends and profits.
The strong March quarter print could lift overall gross domestic product (GDP) growth for the full fiscal year to 7.8% against 7.6% assessed in the government s first advance estimates released in February. The International Monetary Fund (IMF) has also forecast 7.8% growth for FY24. The government will release fourth-quarter growth numbers and provisional GDP data for FY24 on May 31.
India's transaction trends: ePayment riches leave circulation of currency poorer indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.