Central Government receipts and expenditure composition show tax revenue dominance and high revenue spending on interest and subsidies.
Monthly accounts to May 2020 show Union Government receipts comprising Tax Revenue (Net to Centre), Non Tax Revenue, and Non Debt Capital Receipts (loan recoveries), with transfers to States as Devolution of Share of Taxes running below the prior year. Total Expenditure is split into Revenue Expenditure and Capital Expenditure, with major components of revenue spending being Interest Payments and Major Subsidies, and proportions expressed relative to the 2020 21 budget estimates.

Government securities auction: re-issue bonds offered with electronic bidding and non-competitive allocation for eligible bidders.
Re-issue auctions are announced for four specified Government securities with notified nominal amounts and an issuer option to retain additional subscriptions. Auctions will use the multiple price method and be conducted by the Reserve Bank on a set date. Up to 5% of each notified amount is reserved for eligible bidders under the Non-Competitive Bidding Facility. Competitive and non-competitive electronic bids must be submitted via E-Kuber within designated time windows; results and payment/settlement dates are scheduled. The stocks will be eligible for When Issued trading per RBI guidelines.

Cooperative bank regulation expanded to allow RBI led reconstruction or amalgamation and broadened supervisory powers and issuance of capital instruments.
The Ordinance extends the Banking Regulation Act to co operative banks, empowering the Reserve Bank to oversee governance, permit prior approved issuance of shares and long dated securities, and to declare reconstruction or amalgamation schemes to protect depositors and the banking system, while excluding certain primary agricultural credit societies and preserving State Registrar powers.

Treasury bill auction schedule notified with flexibility to modify timing and notified amounts under applicable general notification.
The quarterly Treasury Bill auction calendar prescribes weekly auction and issue dates with notified issuance amounts for 91 day, 182 day and 364 day tenors and aggregated quarterly totals. The Government may modify notified amounts and auction timing based on cash management needs, market conditions and other relevant factors; changes will be communicated by press release. All auctions are subject to the terms and conditions of the General Notification F.4(2)-W&M/2018, as amended.

Interest subvention for prompt repayment under PMMY incentivizes timely Shishu loan servicing over a twelve month period.
A scheme provides a 2% interest subvention for twelve months on Shishu loans under PMMY to eligible borrowers who were outstanding and not NPAs on the cut-off date; subvention is payable for months when accounts are performing, including months after recovery from NPA. The program is implemented through SIDBI, commences after moratoriums where applicable, and aims to reduce borrowing cost and incentivize regular repayment to support small business continuity amid COVID-19.

Purchasing power parity update: India's 2017 PPPs and PLIs revise its global and regional economic rankings.
The 2017 ICP release updates Purchasing Power Parities, Price Level Indices and regional GDP aggregates; India's rupee PPP per US dollar and PLI increased since 2011 while its market exchange rate changed, and India retained third place globally and second place in the Asia Pacific by PPP based GDP share, with corresponding positions in Actual Individual Consumption and Gross Capital Formation. The release provides 2017 results, revised 2011 estimates, annual PPPs for 2012-2016, and notes the next comparison year as 2021.

Emergency credit line guarantee expands capped additional lending for eligible MSMEs, improving liquidity access and restart capacity.
Emergency Credit Line backed by a Government guarantee has enabled banks to sanction and disburse substantial loans to MSMEs to restart operations, permitting eligible enterprises to obtain additional credit as a percentage of existing borrowings at capped interest rates. Complementary measures include refinance facilities to non-bank lenders and housing financiers to boost lending to small borrowers, and an Extended Partial Guarantee Scheme providing contingent support to NBFCs and MFIs with approvals and further transactions underway.

Economic recovery indicators show green shoots as policy and liquidity measures support agriculture, manufacturing and services revival.
Prompt policy interventions by the Government and the Reserve Bank of India combine short-term liquidity and support measures with longer-term structural reforms and social welfare commitments to reinvigorate the economy. Early indicators show agriculture recording record procurement and expanded sowing, while manufacturing and services reflect recovery through improved PMIs, higher electricity and fuel consumption, stronger e-way bill values and increased freight and toll collections.

Government securities re-issue auction: price-based multiple-price method with competitive and non-competitive bidding and when-issued trading enabled.
Re-issue auctions of three central government securities will be conducted by the Reserve Bank of India through price-based auctions using the multiple price method; the Government may retain additional subscriptions. Up to five percent of each notified amount is reserved for eligible participants under the Non-Competitive Bidding Facility. Bids must be submitted electronically via the RBI's E-Kuber with prescribed windows for non-competitive and competitive bids; auction results and payment dates are specified. The stocks are eligible for When Issued trading under RBI guidelines.

Auction of government securities announced; electronic competitive and non-competitive bidding with reserved non-competitive allotment and when-issued trading.
Auction sale and re-issue of multiple central government securities is announced to be conducted by the Reserve Bank of India using the multiple price method via the E-Kuber system; both competitive and non-competitive bids must be submitted electronically within specified intra-day windows, with up to five percent of each notified amount reserved for eligible participants under the Non-Competitive Bidding Facility, and the stocks eligible for When Issued trading under existing RBI guidelines.

Government securities auction procedure announced; yield and price-based auctions with non-competitive facility and E-Kuber bidding.
Announcement of auctions for three central government securities specifying issuance method, notified amounts, allotment mechanics, bidding channels, and settlement timetable. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non Competitive Bidding Facility, and bids must be submitted electronically via the E Kuber system within prescribed time windows. The auctions use the multiple price method and the securities will be eligible for When Issued trading under existing guidelines.

Sovereign Gold Bond issue price announced; online investors paying digitally receive a per-gram discount during subscription.
Sovereign Gold Bonds 2020-21 (Series III) were offered at a declared per-gram issue price for the subscription period with a settlement date; investors who apply online and make payment through digital modes are eligible for a per-gram digital payment discount reducing the issue price for eligible subscribers.

Extension of compliance timelines for payment systems delays implementation and audit deadlines due to prevailing circumstances.
RBI extends compliance timelines for payment system requirements: non bank PPI net worth and System Audit reporting deadlines are deferred; implementation of card security provisions is postponed; harmonisation of TAT and customer compensation (reading "calendar days" as "working days") is extended through year end; and commencement of specified activities under payment aggregator and gateway guidelines is deferred. The directive is issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007.

Upward revision of MSME definition broadens eligibility and adds subordinate debt and equity fund support for sector revival.
The government expanded MSME classification by raising investment and turnover ceilings and excluded export turnover from threshold calculations, increasing the number of firms eligible for MSME status. It approved subordinate debt to provide equity support for distressed MSMEs and authorised a Fund of Funds to infuse equity for capacity augmentation and listing opportunities. Complementary measures include a launched collateral-free automatic credit scheme, procurement rule amendments to prefer domestic suppliers within a procurement ceiling, directives for prompt government payments, and an ICT portal to assist implementation.

Auction of Government Securities: re-issues offered through price-based multiple-price auctions with competitive and non competitive bidding.
Re-issues of fixed and floating central government securities will be offered by price-based multiple-price auctions allowing competitive and non-competitive electronic bids through the designated core banking system, with a reserved allocation for eligible individuals and institutions under the Non-Competitive Bidding Facility, an option for the issuer to retain additional subscription within a ceiling, fixed result and settlement dates, and eligibility for "When Issued" trading under existing guidelines.