Govt expects Reserve Bank surplus to easily surpass Budget targets

Arora pegged the government's budgeted expectation just from the RBI dividend at Rs 38,000-40,000 crore for FY24, which is set to be easily crossed now

The Centre expects a windfall surplus transferable from the Reserve Bank of India (RBI) for the current fiscal year (2023-24, or FY24), Business Standard has learnt.

Sources said any dividend from the RBI, to be decided at the central bank’s board meeting on Friday and likely to be transferred this month itself, to be comfortably above the FY24 Budget Estimates (BE) for dividends from the RBI, state-owned banks, and financial institutions combined, of Rs 48,000 crore.

“We are very comfortable with what we expect the RBI to announce as surplus. It will be well above BE,” said a senior government