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The finance ministry has not discussed any proposal to monetise its deficit with the Reserve Bank of India (RBI), Economic Affairs Secretary Tarun Bajaj said on Thursday.
Speaking at an event organised by industry body Ficci, Bajaj said that based on tax collections so far, India’s economic contraction in this fiscal year might be less severe than anticipated and that the proposal of a ‘bad bank’ had been discussed internally, but no decision had been taken.
“Currently, there is no proposal for debt monetisation on the table. Questions on fiscal position and debt monetisation plan should be asked after three-four months,” said
