Finmin seeks interim payment from RBI to contain fiscal deficit3 min read . Updated: 12 Feb 2014, 06:10 PM IST
Finmin wants RBI to transfer funds ahead of the end of its accounting year
Mumbai: The finance ministry is negotiating with the Reserve Bank of India (RBI) for an interim payment or transfer of surplus of the Indian central bank’s income ahead of the end of its accounting year in an attempt to bridge the country’s fiscal deficit and stick to the estimated deficit target of 4.8% of gross domestic product (GDP) for fiscal year 2014 that ends in March.
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