There is no comparison of this amount with the loan from the recently received IMF to Pakistan. From IMF, Pakistan has recently received a new loan of $ 1.4 billion, or about 12 thousand crores in begging. For this, he has beaten the whole world. He has been rooted with a beggar’s tag and firm. Pakistan is to get a total of $ 7 billion under the entire IMF program. Pakistan has so far received around $ 2.1 billion with the latest installment.
Reduction in tax collection will be completed
Now come to India. Economists believe that this unexpected benefit will be able to meet the reduction in tax collection this year. This decrease has come due to low disinvestment receipts between weak growth and market volatility. Kotak’s economist Upasana Bhardwaj said in a note that ‘we consider gross tax revenue as 1 trillion rupee less than the budget’. He has assumed about 400 billion rupees less to receives from the sale of property.
Dividend’s estimate by economists is more than the government’s estimated Rs 2.56 trillion from the RBI and financial institutions. The RBI Central Board will announce the exact amount soon.
The central bank’s income is expected to increase the income of the central bank from its work in the foreign exchange market. In the last financial year, the RBI intervened in the money market to prevent the rupee from falling faster against the US dollar. RBI may also benefit from interest income on foreign and rupee securities.
IDFC’s Gaura Sen Gupta said that high dividend makes a fiscal place of GDP (GDP) 0.1% to 0.2%. The government has promised to reduce the fiscal deficit by 4.4% in the current financial year. Bhardwaj said that this place can be used to increase social welfare, export enrichment programs and to meet any defense and internal security expenses if needed.
Where does RBI give dividend?
The money that the RBI gives to the government is part of its earnings. The central bank earns this in many ways. For example, the profit from the investment he has made. The benefit of the change in the price of the dollar he has. Fees received from currency printing.
Upasana Bhardwaj says that the government has not got as much money expected to get from tax. Therefore, this money received from RBI will help the government a lot. He also said that the money that the government had planned to sell, did not get as much money as it was thought.
The government had estimated Rs 2.56 lakh crore from RBI and other financial institutions. However, economists say that RBI can pay more than this. The RBI board will decide in May how much money will be given to the government. Many reports have said that this amount can range from 2.75 lakh crore to 3.5 lakh crore rupees.