Govt may utilise Rs 58,000 cr windfall from RBI to meet shortfall in taxes

If there is some money left to use for expenditure, it will be focused on capital spending in priority sectors such as roads (rural and highways), affordable housing and waterworks

The finance ministry will wait for advance tax collections data for the July-September quarter before taking a decision on how to deploy the extra Rs 58,000 crore windfall that it will get from the Reserve Bank of India, said various sources in the government on Tuesday.

“The worst case scenario for us is that all of it will be used to make up for any tax shortfall. The more realistic scenario is that most of it will be used to cover a tax shortfall and some of it for additional expenditure,” said a senior official. 

The best case scenario, of