Finance Minister likely to address RBI board on Feb 23

New Delhi: Finance Minister Nirmala Sitharaman is scheduled to address the Reserve Bank of India's central board on February 23 and highlight key points of the FY27 Budget, including measures to boost manufacturing, and support for agriculture and tourism.

The meeting would take place days after the RBI decided to retain the key policy rate at 5.25 percent with a neutral stance amidst global uncertainties.

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The post-budget meeting has been scheduled for February 23, where the finance minister will address the board members and talk about announcements made in the Budget 2026-27 that strike a fine balance between growth and fiscal prudence, sources said.

It is customary for the finance minister to address the RBI board after the budget.

Unveiling her ninth straight Budget in a row on February 1 in the Lok Sabha, Sitharaman said, "Since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation."

The Government pursued far-reaching structural reforms, fiscal prudence and monetary stability whilst maintaining a strong thrust on public investment, she had said.

The government has announced a new roadmap to reduce debt-GDP ratio to about 50 percent by March 2031 from 55.6 percent in FY27.

In line with the new fiscal prudence path of debt consolidation, the fiscal deficit in BE 2026-27 is estimated to be 4.3 percent of GDP from 4.4 percent for the current financial year.

The non-debt receipts and the total expenditure are estimated at Rs 36.5 lakh crore and Rs 53.5 lakh crore, respectively. The Centre's net tax receipts are estimated at Rs 28.7 lakh crore.

To finance the fiscal deficit, the net market borrowings from dated securities are estimated at Rs 11.7 lakh crore. The balance financing is expected to come from small savings and other sources, and the gross market borrowings are estimated at Rs 17.2 lakh crore.

The Budget 2026-27 has projected a nominal GDP growth rate of 10 percent for the next fiscal year, as against 8 percent estimated for the current financial year.

The projection came on the backdrop of the GDP growth of 7.4 percent in the current fiscal, maintaining the country's status as the world's fastest-growing major economy. During the first half of the ongoing financial year, the Indian economy witnessed a growth rate of 8 percent.

The finance minister would be accompanied by Minister of State for Finance Pankaj Chaudhary, along with Economic Affairs Secretary, Revenue Secretary, Expenditure Secretary, Financial Services Secretary and other senior officials.

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