The RBI approved a record ₹2.87 lakh crore surplus transfer to the Union Government for FY26. Driven by foreign exchange gains and US Treasury yields, this massive non-tax revenue provides vital fiscal space but raises critical concerns over central bank independence, fiscal federalism, and the risks of fiscal dominance.
Click to View MoreThe RBI transferred a record ₹2.87 lakh crore surplus to the Central Government for FY26 under the Economic Capital Framework. This crucial non-tax revenue aids fiscal consolidation, effectively manages the fiscal deficit, and balances monetary stability with national public expenditure.
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