RBI’s generosity is good for India’s fiscal glidepath, but not enough for oil price relief: Kotak's Economist Bhardwaj
India's central bank surplus transfer to the government will help it maintain fiscal prudence but it is unlikely to cut fuel taxes now, said Upasna Bhardwaj, a senior economist at Kotak Mahindra Bank. With disinvestment revenues posing a risk, higher subsidy payments, if any, would be cushioned by the RBI dividend, Bhardwaj said.
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