India's government denies reports it is seeking ₹3.6 billion from its central bank
Dismissing reports that the government sought ₹3.6 billion from the
The government will meet its budget gap aim of 3.3% of Gross Domestic Product for the current financial year ending March, he stressed.
He, however, said that the proposal under discussion between the government and the
"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 ₹3.6 or ₹1 billion, as speculated," Garg said in a tweet.
Lot of misinformed speculation is going around in media. Government’s fiscal math is completely on track. There is… https://t.co/PZbWFUIccp— Subhash Chandra Garg (@SecretaryDEA) 1541749930000
Asserting that the government's fiscal deficit target was on track, another tweet from him said: "...Government has actually foregone ₹700 billion of budgeted market borrowing this year."
Only proposal under discussion is to fix appropriate economic capital framework of RBI.— Subhash Chandra Garg (@SecretaryDEA) 1541750322000
Reports last week said that the government had proposed that the RBI transfer ₹3.6 billion from its reserves, which the
The spat between India’s central bank and the government gets more heated as the finance minister blames it for not doing enough to prevent the country’s bad loan problem