TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

US Treasury Auction Calendar

BoC Data Watch

EZ/UK T-Bill Calendar: 26-Week GTB Auction on Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

RBI Dividend Provides Near-Term Support to Fiscal Performance – Fitch Ratings

INDIA
BulletEM BulletEmerging Market NewsHomepage

The larger-than-expected RBI dividend to the government should help to ensure the 5.1% of GDP deficit target for the fiscal year ending March 2025 (FY25) will be met and could be used to lower the deficit beyond the current target, says Fitch Ratings.

  • “The new government’s budget following the release of election results in June is likely to be presented in July and it will determine how the dividend will be used.”
  • “The government has signalled it aims to narrow the deficit gradually to 4.5% of GDP by FY26. Sustained deficit reduction, particularly if underpinned by durable revenue-raising reforms, would be positive for India’s sovereign rating fundamentals over the medium term.”
  • See the full report here.
113 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The larger-than-expected RBI dividend to the government should help to ensure the 5.1% of GDP deficit target for the fiscal year ending March 2025 (FY25) will be met and could be used to lower the deficit beyond the current target, says Fitch Ratings.

  • “The new government’s budget following the release of election results in June is likely to be presented in July and it will determine how the dividend will be used.”
  • “The government has signalled it aims to narrow the deficit gradually to 4.5% of GDP by FY26. Sustained deficit reduction, particularly if underpinned by durable revenue-raising reforms, would be positive for India’s sovereign rating fundamentals over the medium term.”
  • See the full report here.