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Internet and Food | Madan Gowri
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In
the Free Internet and Food video we are giong to look at the RBI to transfer Rs
1.76 lakh crore from surplus reserve to government.The Reserve Bank of India
(RBI) on Monday approved the transfer of record Rs 1.76 lakh crore dividend and
surplus reserves to the government, boosting Prime Minister Narendra Modi-led
regime's prospect to stimulate the slowing economy without widening fiscal
deficit. Governor Shaktikanta Das-led RBI central board gave its nod for
transferring to the government a sum of Rs 1,76,051 crore comprising Rs
1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess
provisions identified as per the revised Economic Capital Framework (ECF), the
apex bank said in a statement. The excess reserve transfer is in line with the
recommendation of former RBI governor Bimal Jalan-led panel constituted to
decide size of capital reserves that the central bank should hold. The
government was represented by Finance Secretary Rajiv Kumar in the panel which
finalised its report on August 14 by consensus. The receipts from the RBI will
give a fillip to the government's efforts to boost the economy from a five-year
low. Finance Minister Nirmala Sitharaman had last week announced a slew of
measures to prop up growth even as the government tried to stick to the target
of keeping fiscal deficit at 3.3 per cent of the GDP. The additional cash will
now give the Centre more headroom for stimulating the economy.
நன்றி: திரு மதன்கௌரி மற்றும் யூட்யூப்.
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