Government receipts and expenditure reporting through May highlights tax and non tax revenues, state devolution, and expenditure composition.
Receipts through May 2024 comprise tax revenue, non tax revenue and non debt capital receipts with a substantial transfer to States as devolution of tax share. Expenditure is split between revenue and capital accounts, with interest payments and major subsidies highlighted as principal revenue outgo items, reflecting the interim composition of central fiscal operations.

Data governance and modern statistical systems drive public policy through centralized information management and ethical AI-driven analytics.
The Reserve Bank has modernised its statistical architecture via a next generation Centralised Information Management System (CIMS)-incorporating a data lake, SDMX metadata standards, server to server RegTech/SupTech flows, advanced analytics, dashboards and public query interfaces-while onboarding regulated entities and training personnel. Priority areas include aligning with new global macroeconomic standards, leveraging alternative and high frequency data, expanding AI/ML and unstructured data analytics, and addressing data quality, signal extraction and ethical algorithmic bias to improve policy analysis and public dissemination.

Government securities auction using multiple price method with reserved non competitive allocation and e submission requirement.
Re-issue auctions for two central government securities will be conducted by the Reserve Bank of India using the multiple price method; the government may retain additional subscriptions and reserves a portion of each notified amount for eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically via the RBI E-Kuber system within prescribed windows; auction results and settlement will occur on announced dates. The securities are eligible for "When Issued" trading under RBI guidelines.

Financial inclusion: SLBCs must coordinate, use data and fintech, and boost digital literacy to close credit and usage gaps.
SLBCs must address remaining deficiencies in banking service usage and quality and persistent credit gaps for MSMEs, SHGs and small farmers by (i) coordinating with government and NGOs under the Lead Bank Scheme, (ii) preparing scientific, data driven annual credit plans with regular monitoring, (iii) leveraging fintech and public tech platforms to speed and improve credit delivery, and (iv) implementing outcome focused financial and digital literacy programs to convert access into sustained use of formal financial services.

Financial system resilience through stronger governance, supervisory reforms, tech adoption and vendor risk management.
The address advocates embedding resilience through strengthened regulatory and supervisory architecture, highlighting governance requirements-independent boards and senior assurance functions-and ethical compliance. It urges vigilance over business model vulnerabilities and promotes advanced technologies for predictive risk detection and fraud control, while managing third party vendor risk via due diligence and monitoring. The Reserve Bank commits to regulatory review, restructuring across entity types, promotion of self regulatory organisations, and a shift to thematic and activity based supervision supported by a unified supervision department. A Through the Cycle Risk Assessment Framework with horizon scanning and customer centricity is proposed.

Deposit insurance reform: India mandates up front payouts and strengthened risk management to protect depositors swiftly.
India's deposit insurance framework now requires the DICGC to make up-front payouts to insured depositors within statutory timelines once a bank is placed under regulatory restrictions, with insured banks obliged to submit depositor lists and the Corporation verifying claims and completing payments within specified sequential timeframes; the DICGC retains a constrained paybox plus role while resolution powers remain with the central bank.

Policy repo rate unchanged; committee signals continued withdrawal of accommodation to anchor inflation while supporting growth.
The Monetary Policy Committee kept the policy repo rate at 6.50 per cent and left related facility rates unchanged, while committing to continued withdrawal of accommodation to align CPI inflation with the 4 per cent medium term target, balancing the objective with support for growth. Real GDP for 2024 25 is projected at 7.2 per cent and CPI inflation at 4.5 per cent, with risks from food inflation, commodity and financial market volatility judged evenly balanced. Voting was 4-2 with two members advocating a rate cut and a neutral stance.