Government not seeking Rs 3.6 lakh crore from RBI: Subhash Chandra Garg

NEW DELHI: The executive on Friday mentioned it is not in search of Rs 3.6 lakh crore capital from the Reserve Bank but is best in discussion for solving appropriate financial capital framework of the central financial institution.

"Lot of misinformed speculation is going around in media. Government's fiscal math is completely on track. There is no proposal to ask RBI to transfer Rs 3.6 or 1 lakh crore, as speculated," financial affairs secretary Subhash Chandra Garg tweeted.



He mentioned the one proposal "under discussion is to fix appropriate economic capital framework of RBI."




Exuding self assurance about executive's fiscal math, he mentioned, it'll stick with the fiscal deficit goal of three.3 in line with cent for the present monetary 12 months ending March 31, 2019.


"Government's FD (fiscal deficit) in FY 2013-14 was 5.1%. From 2014-15 onwards, Government has succeeded in bringing it down substantially. We will end the FY 2018-19 with FD of 3.3%. Government has actually foregone 70,000 crore of budgeted market borrowing this year," he mentioned.



Government not seeking Rs 3.6 lakh crore from RBI: Subhash Chandra Garg Government not seeking Rs 3.6 lakh crore from RBI: Subhash Chandra Garg Reviewed by kailash soni on November 09, 2018 Rating: 5
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