No windfall gain

Transfers from RBI are unlikely to change fiscal reality

The government is unlikely to get the kind of fiscal support it was expecting from the Reserve Bank of India (RBI), going by initial comments from members of the expert committee set up to review the economic capital framework of the Indian central bank. The committee ended its deliberations last week after repeated postponements. It was originally mandated to submit its report to the RBI within 90 days of its first meeting, which took place on January 8. The panel was given a three-month extension at that time. Chaired by former RBI governor Bimal Jalan, the committee is reported to