The Centre government is likely to seek Rs 30,000 crore worth of interim dividend from the Reserve Bank of India to meet its fiscal target of 3.3 per cent in financial year 2019-20. The final decision on the transfer of extra dividend for this financial year will be taken in January only. "If required, the government may request the Reserve Bank of India for an interim dividend of Rs 25,000-30,000 crore during the current fiscal," an official, requesting anonymity, told PTI. Notably, the government has come under tremendous pressure to meet its fiscal target due to a falling revenue collection and a series of measures taken in the last month to reinvigorate the sagging economy.
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The Centre government is likely to seek Rs 30,000 crore worth of interim dividend from the Reserve Bank of India to meet its fiscal target of 3.3 per cent in financial year 2019-20. The final decision on the transfer of extra dividend for this financial year will be taken in January only. "If required, the government may request the Reserve Bank of India for an interim dividend of Rs 25,000-30,000 crore during the current fiscal," an official, requesting anonymity, told PTI. Notably, the government has come under tremendous pressure to meet its fiscal target due to a falling revenue collection and a series of measures taken in the last month to reinvigorate the sagging economy.