There is no proposal from the government to ask the Reserve Bank of India to transfer its surplus reserves, said Subhash Chandra Garg, economic affairs secretary in the finance ministry, in a tweet today. Dismissing reports earlier this week that it was seeking between Rs. 1 lakh crore and Rs. 3.6 lakh crore from the central bank’s reserves, he said the government’s fiscal math “is completely on track”.
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