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North Block versus Mint Road

After demonetisation and interest rate stance, surplus profit transfer has become another bone of contention

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A K Bhattacharya
The Union finance ministry is asking for more money from the Reserve Bank of India (RBI). North Block, headquarters of the ministry, is reported to be of the view that the country’s apex bank could easily transfer at least Rs 13,000 crore more by way of its surplus to the central exchequer. But the RBI seems to have indicated its reluctance to transfer more money to the Union government.

The finance ministry’s demand for more money can be explained by the difficulty it faces in meeting the current year’s fiscal deficit target, set at 3.2 per cent of gross domestic
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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