Piyush Goyal to address RBI board on February 9

PTI | | Updated on: Feb 03, 2019

Poll bugle Piyush Goyal

The RBI paid ₹40,000 crore as dividend for the current fiscal

Finance Minister Piyush Goyal is scheduled to address the customary post budget meeting of the Reserve Bank of India (RBI) board on February 9. He will highlight the key points of the interim Budget.

The meeting will take place two days after the sixth monetary policy review which is expected to take a call on policy rates.

According to sources, the board meeting on February 9 would also take up request of the government for interim dividend for the current fiscal.

The Centre expects ₹28,000 crore from the RBI as interim dividend for the current fiscal based on e financial position of the first half of the central bank.

The RBI which follows July-June financial year, paid ₹40,000 crore as dividend for the current fiscal.

The customary post-budget meeting will take place against the backdrop slight deviation from fiscal deficit target for the current fiscal, tax rebate for Income up to ₹5 lakh and income support scheme for 12 crore farmers.

The Centre announced ‘Pradhan Mantri Kisan Samman Nidhi’ (PM-KISAN) scheme under which ₹6,000 per year would be provided to farmers holding cultivable land of up to 2 hectare.

Apart from direct income support to farmers, Goyal, in the interim budget for 2019-20, also announced extended interest subsidy on loans availed for animal husbandry and fishery as well as to those farmers affected by severe natural calamities.

The Centre also decided to increase standard deduction from existing ₹40,000 to ₹50,000 and also raised TDS threshold on interest earned on bank/post office deposits from ₹10,000 to ₹40,000.

Published on February 03, 2019
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