Post budget meeting at RBI reviews current economic situation along with the global and domestic challenges

Mumbai, February 19: Addressing the post-Budget meeting of the Central Board, Finance Minister Arun Jaitley broadly outlined the various reforms and policy measures taken by the Government over the last four years and the effects thereof. The meeting of the Central Board of the Reserve Bank of India commenced on 18th of February by observing two minutes silence in memory of the security force personnel who laid down their lives in Pulwama.

 

The meeting was attended by Shiv Pratap Shukla, Minister of State for Finance, Ajay Narayan Jha, Finance Secretary and Secretary (Expenditure), Ajay Bhushan Pandey, Secretary (Revenue) and Krishnamurthy Subramanian, Chief Economic Adviser, the overall meeting being chaired by Governor Shaktikanta Das.

The Board continued its meeting after the interaction with the Finance Minister was over. The Board reviewed the current economic situation, global and domestic challenges and other specific areas of operations of the Reserve Bank.

Based on a limited audit review and after applying the extant economic capital framework, the Board decided to transfer an interim surplus of ₹ 280 billion to the central government for the half-year ended December 31, 2018. This is the second successive year that the Reserve Bank will be transfering an interim surplus.