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        Case ID :

        Surplus amount of RBI transferred to Government

        December 19, 2018

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        The details of RBI's Currency and Gold Revaluation Account (CGRA) and Contingency Fund for the last five years are as follows:

        Year (as on June 30th)

        Currency and Gold Revaluation  Account (in ₹ billion)

        Contingency Fund (in ₹ billion)

        2014

        5,721.63

        2,216.52

         

         

         

        2015

        5,591.93

        2,216.14

         

         

         

        2016

        6,374.78

        2,201.83

         

         

         

        2017

        5,299.45

        2,282.07

         

         

         

        2018

        6,916.41

        2,321.08

         

         

         

        The surplus amounts of RBI transferred to Government during the last three years are as follows:

        Year*

        Amount of Surplus transferred (in ₹ billion)

         

         

        2016

        658.76

         

         

        2017

        306.59

         

         

        2018

        500.00

        * RBI’s Financial Year is from July – June

        This was stated by Shri Pon. Radhakrishnan, Minister of State for Finance in a Written Reply to a Question in Rajya Sabha.

        Central bank surplus transfers to government recorded, reflecting reserve revaluation and contingency balances affecting fiscal receipts. RBI reported transfers of surplus amounts to the Government in three recent financial years, listing annual transfer sums that reflect the central bank's remittances of excess balances to the treasury. The disclosure also sets out five year balances of the Currency and Gold Revaluation Account (CGRA) and the Contingency Fund, illustrating available revaluation reserves and contingency holdings that underpin the capacity for such surplus transfers.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Central bank surplus transfers to government recorded, reflecting reserve revaluation and contingency balances affecting fiscal receipts.

                                RBI reported transfers of surplus amounts to the Government in three recent financial years, listing annual transfer sums that reflect the central bank's remittances of excess balances to the treasury. The disclosure also sets out five year balances of the Currency and Gold Revaluation Account (CGRA) and the Contingency Fund, illustrating available revaluation reserves and contingency holdings that underpin the capacity for such surplus transfers.





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                                ActsIncome Tax
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