Overview
- The Union Budget pegs FY27 dividends from the RBI, public sector banks and financial institutions at Rs 3.16 lakh crore.
- Revised estimates for the current fiscal raise expected transfers to about Rs 3.05 lakh crore, up from the Rs 2.56 lakh crore projected last February.
- The disinvestment target climbs to Rs 80,000 crore in FY27 from Rs 33,837 crore in FY26, with market watchers noting assumptions for IDBI’s sale and a stake offload in LIC.
- FY26’s record RBI surplus of Rs 2.69 lakh crore was driven by heavy forex sales, while a drop to $98 billion in April–November 2025 interventions points to profits leaning more on interest income from past bond purchases.
- Total non-tax revenue is set at Rs 6.66 lakh crore for FY27, roughly 23% of projected net tax revenue, including Rs 75,000 crore expected from PSE dividends and other investments.