 "Best of BS Opinion: Accounting gains, games promoters play & more")
A significantly higher surplus transfer by the Reserve Bank of India (RBI) in the middle of a pandemic when both tax and non-tax revenues are under pressure will definitely help the government. However, in this context, our lead editorial notes that the issue needs to be debated. Government finances are likely to remain under pressure in the medium term. Thus, should the RBI be churning its foreign currency holdings to generate surplus and ease the fiscal pressure? There are limits to the extent such gains can be generated. Additionally, would RBI’s excessive focus on easing fiscal pressure not increase risks to financial stability? Read here
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