Double windfall bonanza.

"The RBI has declared a dividend of Rs 87,416 crore (Rs 874.16 billion) to the government, nearly triple the amount of Rs 30,307 crore (Rs 303.07 billion) paid out in the previous financial year." ET. A windfall bonanza for the government. "Economists said the surprisingly high dividend was a result of the volatility in the foreign exchange market which enabled the RBI to book huge profits through the sale of dollars." "The country's forex reserves, which stood at $606.47 billion on 1 April 2022, the beginning of the fiscal 2022-23, slumped to $578.44 billion on March 31, 2023, posting a decline of $28.03 billion during the year." DH. "India's foreign currency assets, the biggest component of the forex reserves, dropped from $539.72 billion on 1 April 2022 to $509.69 billion on 31 march 2023, registering a decline of $30.03 billion." Selling foreign currency, mainly dollars, strengthened the rupee and subdued the rate of inflation by controlling the rise in prices of imports from a weaker rupee. Even so the consumer price index (CPI) inflation rate was 7.8% in April 2022, dropped to a low of 5.7% in December 2022, rose to 6.5% in January 2023 and then dropped to 5.7% in March 2023. rateinflation.com. Record high prices of goods and services generated  record high GST collections, reaching a record of Rs 1.87 trillion in April 2023. TOI. So, the government benefited from high tax collections and has now been rewarded with a huge dividend. Double windfall bonanza. Governor of the RBI Shaktikanta Das' "lack of formal education in economics has proven to be a gift that allows him to make unconventional choices with great success," wrote Gokul Rathi. Indeed. Das was rewarded with an extension of his term as governor of the RBI for three more years starting on 10 December 2021. BT. Top officials and the central government in complete harmony. So much so that, "The Union government has established the National Capital Service Authority through an ordinance to make recommendations to the Delhi Lieutenant Governor regarding matters concerning transfer posting, vigilance and other incidental matters." India Today. This was done to override a unanimous verdict by a constitution bench of the Supreme Court of India which said that the elected government of Delhi "shall have power on all services except law and order and land". "If an officer is not responding to govt the collective responsibility is diluted...if an officer feels they are insulated from elected govt they feel they are not accountable," the Chief Justice of India (CJI) said. Who cares about the Supreme Court? Who wants accountability? The hell with the Constitution.