After the FM’s customary post budget address to the Central Board of Directors of the RBI, explaining the government’s priorities and key budget initiatives, the FM got on to the government’s real agenda with the RBI governor. It is reported that despite sliding global interest rates, the FM asked the RBI governor to secure every effort to ensure a higher dividend for the government, for the forthcoming FY 2021-22. It is said that top officials of the Finance Ministry then advised the RBI to diversify India’s massive foreign exchange reserves, into financial instruments that give higher returns. They suggested an aggressive deployment of the forex reserves, that adds to the profits of the RBI, enabling the payment of a higher dividend by the RBI, to the Government of India.
#RBI #NirmalaSitharaman #FinanceMinister #UnionBudget2021
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