Very supportive RBI
This refers to the news report RBI Fires on Double Engines in Poll Year (ET 31/05/24). It is encouraging to note from the Annual Report of RBI that the RBI has augmented its income by 17% and reduced its expenditure by 56.3% last fiscal year thereby facilitating an unprecedented transfer of Rs 2.10 lakh crore annual dividend to the North Block. This augurs well for the new Government to be formed in June 2024 to kickstart the economy very well and keep the macro economic targets achievable with conducive fiscal policy in tune with very accommodative monetary policy . This perfect coordination between the central Government and RBI which seldom happens is a welcome change to tune the economic policy of the new Government to realise the dream of making the economy the fastest and reach the target of India becoming a developed economy by the year 2047. A strong RBI balance sheet, no doubt reflects on the strength of the economy and with effective governance and participative involvement and commitment of all particularly Central and State Governments and all sensitive institutions Associated with national Developments, the 2047 target is well within our reach.
Sarve Jana Sukhino Bhavanthu.
T V G Krishnan
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