News / Lok Sabha elections 2019: RBI policy helps Modi’s campaign

The New Indian Express : Apr 02, 2019, 04:44 PM
India’s government is increasingly looking to the central bank to help boost a flagging economy before an election that kicks off next week. An RBI panel is also considering a government request to transfer more of central bank’s excess capital to the state. An increase would help plug widening budget deficit, allowing Prime Minister Narendra Modi to fund billions of rupees in spending to rural workers, voting bloc.