Team Blitz India
NEW DELHI: The Reserve Bank of India’s (RBI) Central Board of Directors has approved the transfer of Rs2,10,874 crore as surplus to the Government for the financial year 2023-24, the RBI said on May 22.
The central bank said surplus transfer to government for financial year 2023-24 is based on the Economic Capital Framework (ECF) adopted by RBI as per recommendations of the Bimal Jalan committee, RBI said in a release. ECF was adopted by theRBIon August 26, 2019.
The dividend, transferred in 2024-25, is sharply higher than what the government had expected. The transfer is for FY24 but will reflect in the Government’s account for FY25.
The higher dividend would support the government’s liquidity surplus, and, thereafter, expenditure, experts said.
The Government had budgeted a dividend of Rs 1.02 lakh crore for 2024-25. At Rs 1.02 lakh crore, the budgeted dividend revenue for the FY25 is 2.3 percent lower than the revised estimate of Rs 1.04 lakh crore for 2023-24.