Central receipts composition highlights tax, non tax and non debt capital inflows, with spending dominated by revenue outlays and transfers.
Monthly fiscal statement for April 2019 reports consolidated central receipts composed of tax revenue, non tax revenue, and non debt capital receipts (loan recoveries and disinvestment), and records total expenditure split into revenue and capital accounts, with revenue expenditure notably including interest payments and major subsidies; it also notes transfers to states via devolution of tax shares and a year on year reduction in such devolution for the period.

Government receipts composition shows tax-dominated revenue, significant devolution to states and elevated revenue expenditure driven by interest and subsidies.
The provisional consolidated accounts report that Total Receipts were chiefly tax revenue, supported by non tax receipts and non debt capital receipts (loan recoveries and PSU disinvestment), alongside sizable devolution to states. Total Expenditure was split into revenue and capital accounts, with revenue expenditure predominating and major components including interest payments and subsidies.

Use of corporate database ensures National Accounts scaling by paid-up capital; NSS survey findings unlikely to affect estimates.
Use of the MCA-21 corporate database under a Paid-Up-Capital based scientific blowing-up method is the adopted approach for scaling private corporate sector estimates in National Accounts. A reconciliation of the NSS 74th Round sample with MCA filings showed high rates of annual return filing across categories (including many units classed as non-traceable or misclassified), with only a small number untraceable due to CIN changes or formal status. MCA filings are continuously incorporated and the PUC-based non-response scaling is low, so the NSS findings will mainly guide design of the Annual Survey of Services and have insignificant impact on estimates.

RTGS timing extension expands customer transaction window and updates time-varying charges for outward transfers from banks.
With effect from June 1, 2019, the RTGS customer transaction initial cut-off is extended to 18:00 hours while business opens at 08:00 hours, inter-bank final cut-off remains at 19:45 hours, IDL reversal is 19:45-20:00 hours and end-of-day is 20:00 hours. A graded time-varying charge schedule for outward transactions applies across settlement-time bands, payable in addition to the flat processing charge and exclusive of taxes.

Government securities auction: multiple-price re-issue offering with reserved non-competitive allocation and specified submission and settlement timelines.
Sale by price based auction of multiple Government stocks will be conducted using the multiple price method with a combined notified limit and an option to retain additional subscriptions. Auctions will be held electronically on the central banking E Kuber system with defined time windows for non competitive and competitive bids; up to five percent of notified amounts is reserved for eligible participants under the non competitive bidding facility. Results and payment follow scheduled dates, and the stocks are eligible for When Issued trading under central bank guidelines.

Liquidity risk framework introduces LCR for deposit-taking and large non-deposit NBFCs with phased implementation and public consultation.
Reserve Bank proposes a draft Liquidity Risk Management Framework for NBFCs and CICs requiring strengthened Asset Liability Management, granular maturity buckets, specified liquidity monitoring tools and a stock approach to liquidity. The draft also proposes a Liquidity Coverage Ratio (LCR) for deposit-taking NBFCs and systemically large non-deposit NBFCs, to be implemented through a calibrated phased approach, and seeks public comments through prescribed submission channels.

Government stock auction: price-based multiple-price sale with non-competitive facility and electronic bidding via RBI system.
Announcement of a price-based auction using the multiple price method for re-issue of government stocks, with a government option to retain additional subscription. Both competitive and non-competitive bids are allowed; up to five percent of each notified amount is reserved under a Non-Competitive Bidding Facility for eligible individuals and institutions. Bids must be submitted electronically on the RBI E-Kuber system within prescribed windows, and the notice specifies auction result and payment dates. Stocks will be eligible for when-issued trading under RBI guidelines.

Government stock auctions allocate notified amounts via price and yield methods with non-competitive allotment for eligible bidders.
Government stocks are offered through auctions conducted by the Reserve Bank of India using the multiple price method, with price- and yield-based formats and a total notified limit subject to additional retention by the government. Electronic bidding on E-Kuber accepts competitive and Non-Competitive Bidding Facility bids, with up to five percent of notified amounts reserved for eligible individuals and institutions, specified submission windows for bid types, scheduled result announcement and settlement, and eligibility for When Issued trading under RBI guidelines.

State fiscal governance: emphasis on strengthened transparency, borrowing discipline and standardized disclosures to improve subnational fiscal management.
The meeting emphasised strengthening State fiscal governance via State Finance Commissions, continuity of Finance Commission engagement, and adoption of common expenditure codes to reduce inter-state variance. It noted fiscal slippages driven by legacy and recent liabilities and a rising state debt-to-GDP ratio. On market borrowings, it urged improved secondary market liquidity, disclosure and valuation practices for state debt, stronger guarantee reserves, standardised reporting of contingent liabilities under FRBM, and better cash-forecasting and short-term borrowing mechanisms for states.

Government securities auction: price based re issue with reserved non competitive participation and electronic bidding procedures.
A price based auction will re issue four government stocks within an aggregate notified limit, with government option to retain additional subscriptions; auctions will employ the multiple price method and be conducted by the Reserve Bank of India in Mumbai. A reserved portion of each notified amount is available under the Non Competitive Bidding Facility for eligible individuals and institutions. Competitive and non competitive bids must be submitted electronically via the RBI Core Banking Solution (E Kuber) within prescribed time windows; auction results, payment schedule, and eligibility for "When Issued" trading follow RBI circular guidance.

Borrowing cost policy shaped by FCXV consultations with central bank, banks and economists to refine fiscal assumptions and risks.
The Fifteenth Finance Commission sought expert inputs on borrowing cost of the Centre and States and modalities to make borrowing increasingly market-driven; macro-economic assumptions for fiscal projections and stability; quantification of contingent liabilities and off-budget transactions; state debt trajectories and consolidation road maps; fiscal implications of bank recapitalisation; and the central bank's assessment of dividends and surplus transfers available to the Government during the award period.

Electoral bond sale restriction limits purchases to authorized SBI branches and requires encashment through authorized bank accounts.
The amendment restricts the next phase of sale to a narrowed issuance window and authorizes State Bank of India branches to issue and encash Electoral Bonds. Purchasers must be Indian citizens or entities incorporated/established in India, with individuals able to buy singly or jointly. Only political parties meeting registration and minimum electoral vote thresholds may receive and encash bonds, which must be routed through an account with the Authorized Bank. Electoral Bonds carry a limited validity after which no payment is made, and deposits by eligible parties are credited on the same day.