New Delhi, January 7: RBI Governor Shaktikanta Das on Monday said the central bank will announce a decision on giving interim dividend to the government once such a final view is taken. The government has already said it will seek interim dividend from the RBI in order to maintain its fiscal deficit of 3.3 per cent of the GDP for 2018-19.
Last fiscal, the RBI paid an interim dividend of Rs 10,000 crore to the Centre. RBI follows the July-June calendar. "As and when RBI takes any decision on any matter (interim dividend), you will come to know about it," Das said. Last month, Economic Affairs Secretary Subhash Chandra Garg had said the government will seek interim dividend from the Reserve Bank of India (RBI). Shaktikanta Das 'MA in History' Is New RBI Governor, Twitterati Slam Decision; See Qualifications of Previous 5 RBI Governors.
As per the Budget Estimate, the government projected to collect Rs 54,817.25 crore as dividend or Surplus of Reserve Bank of India, Nationalised Banks and Financial Institutions in the current financial year (2018-19). The government received Rs 40,000 crore as dividend for the current fiscal while Rs 10,000 crore was paid as interim dividend in the last financial year (2017-18). In all, the RBI paid a dividend of Rs 50,000 crore to the government in 2017-18.