Adani Enterp. 1956.05↑66.05(3.49%)
Adani Ports 688.10↑23.15(3.48%)
Apollo Hospitals 4447.15↑5.15(0.12%)
Asian Paints 3084.45↓-24.60(-0.79%)
Axis Bank 924.05↑9.35(1.02%)
B P C L 360.30↓-0.40(-0.11%)
Bajaj Auto 4483.20↓-35.45(-0.78%)
Bajaj Finance 6784.20↓-5.20(-0.08%)
Bajaj Finserv 1415.10↓-0.35(-0.02%)
Bharti Airtel 805.75↑6.40(0.80%)
Britannia Inds. 4499.85↓-64.50(-1.41%)
Cipla 916.25↑1.75(0.19%)
Coal India 239.90↑0.30(0.13%)
Divi's Lab. 3098.30↓-55.20(-1.75%)
Dr Reddy's Labs 4391.95↓-31.15(-0.70%)
Eicher Motors 3570.90↓-5.25(-0.15%)
Grasim Inds 1716.10↑10.40(0.61%)
H D F C 2710.95↓-5.05(-0.19%)
HCL Technologies 1095.35↑15.45(1.43%)
HDFC Bank 1646.90↑1.90(0.12%)
HDFC Life Insur. 557.60↓-3.95(-0.70%)
Hero Motocorp 2713.00↓-22.15(-0.81%)
Hind. Unilever 2641.45↑13.90(0.53%)
Hindalco Inds. 406.75↑0.25(0.06%)
ICICI Bank 954.30↑7.80(0.82%)
IndusInd Bank 1248.00↑9.10(0.73%)
Infosys 1268.90↑22.90(1.84%)
ITC 419.85↑0.15(0.04%)
JSW Steel 693.85↑1.80(0.26%)
Kotak Mah. Bank 1941.65↑14.25(0.74%)
Larsen & Toubro 2190.05↑1.85(0.08%)
M & M 1260.40↑14.90(1.20%)
Maruti Suzuki 9105.95↑52.65(0.58%)
Nestle India 21690.15↑10.55(0.05%)
NTPC 173.30↓-1.80(-1.03%)
O N G C 164.90↓-1.45(-0.87%)
Power Grid Corpn 233.70↓-1.95(-0.83%)
Reliance Industr 2441.95↑7.90(0.32%)
SBI Life Insuran 1154.15↑1.45(0.13%)
St Bk of India 575.15↑0.95(0.17%)
Sun Pharma.Inds. 925.85↓-3.80(-0.41%)
Tata Consumer 765.45↓-10.85(-1.40%)
Tata Motors 524.95↑16.50(3.25%)
Tata Steel 104.65↓-0.55(-0.52%)
TCS 3222.85↑23.00(0.72%)
Tech Mahindra 1072.15↑23.45(2.24%)
Titan Company 2701.65↓-20.20(-0.74%)
UltraTech Cem. 7681.30↑77.15(1.01%)
UPL 668.00↓-5.35(-0.79%)
Wipro 386.20↑3.60(0.94%)

RBI's Rs 87,416-cr surplus provides a welcome fiscal boost for Centre

This is not the first time that the RBI has paid a windfall surplus to the Centre

Arup Roychoudhury New Delhi

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Photo: Bloomberg

3 min read Last Updated : May 19 2023 | 7:44 PM IST

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The Reserve Bank of India’s (RBI’s) decision to transfer Rs 87,416 crore as surplus for the current financial year (FY24) will provide a welcome fiscal boost to the Centre.

The amount, decided at the RBI’s board meeting on Friday, which will be counted as part of the Centre’s non-tax revenue for FY24, is 82 per cent more than the combined target for surplus from the RBI and state-owned banks and financial institutions of Rs 48,000 crore.

Provided all other Budget assumptions, including tax revenues, expenditure and projected nominal GDP, remain unchanged, just the surplus from the RBI would take the Centre’s FY24 fiscal deficit to Rs 16.99 trillion or 5.6 per cent of GDP, compared with Rs 17.87 trillion or the budgeted 5.9 per cent of GDP, our calculations show.