No specific decision on the interim dividend yet: RBI

New Delhi, Feb 18 (KNN) At a customary post-budget meeting, the Reserve Bank of India (RBI) and Finance Ministry led by Finance Ministry Arun Jaitley discussed the government's interim budget and the Indian economic scenario today.

The meeting was addressed by Jaitley where he highlighted the key points of the budget including a range of topics.

On the sidelines of the meeting Jaitley along with RBI governor Shaktikanta Das said that no specific decision on the interim dividend had been taken.

Das explained that the decision on the disbursal of the interim dividend would be taken by the RBI board, and not by the RBI central board.

The RBI board will arrive at the final interim dividend number based on the central bank's audited earning of first six months as it follows a July-June financial year calendar. The first half was over in December 2018.

The total surplus transfer to the government for 2018-19 is expected to rise to Rs 68,000 if the RBI board agrees to pay it the interim dividend of Rs 28,000.

The RBI had made a dividend payout of Rs 30,659 crore for the fiscal year ending June 2017, about 63% higher than the previous year (2016-17).

The interim dividend will help government ease fiscal pressure and also aid it in giving the economy a boost before the crucial general elections in April-May this year.

The government has projected the fiscal deficit target at 3.4%  for the financial 2019-20 in the interim budget (2019-20). (KNN/JM)