Business

Govt not seeking Rs 3.6 lakh crore from RBI: DEA Secretary SC Garg

Written by PaperDabba
Image Source : PTI

File photo of DEA Secretary SC Garg

Government is not seeking Rs 3.6 lakh crore from the Reserve Bank of India, the Department of Economic Affairs Secretary SC Garg clarified on Friday. 

Garg said that the government is discussing ways to fix appropriate economic capital framework of RBI. 

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He also informed the media that the Modi government will end the Financial Year 2019 with a fiscal deficit of 3.3 per cent. It has foregone Rs 70,000 cr of budgeted market borrowing this year, the DEA Secretary said. 

Earlier, Congress chief Rahul Gandhi had claimed that the government required Rs 3.6 lakh crores to fix the ‘economic mess’ caused by PM Modi’s financial policies. 

(With inputs from PTI)

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