RBI dividend up 52% contains fiscal deficit

A steep increase of over 51 per cent in the dividend payouts by Reserve Bank of India (RBI) will help the Indian government to contain the fiscal deficit within limits of 5.1 per cent, as envisaged in the Union Budget 2001-02 despite shortfall in tax revenues and addtional expenditure due to last batch of supplementary grants.

"RBI is reported to have paid an estimated Rs 93.50 billion (US$200.86 million) in 2000-01 as against the budget estimate of Rs 61.79 billion, which helped the federal g