However, the payout will likely stoke fresh concerns about the Reserve Bank of India's independence.
India's central bank has announced a $24-billion windfall for the cash-strapped government, giving a much-needed boost to Prime Minister Narendra Modi as he seeks to kickstart growth in Asia's third-biggest economy.
The auto sector has been particularly badly hit, with car sales plunging in July for the ninth month running, while weak consumer spending and high taxes have hit demand for everything from biscuits to hair oil. Sujan Hajra, an economist at Anand Rathi Securities, said that the latest announcement is a"positive move" for the economy and for public finances.
However, the bank's independence has already been called into question after it cut interest rates four times this year to a nine-year low, reportedly under government pressure.
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