Reserve Bank of India's net disposable income has declined by 14.39 per cent at Rs 8,838 crore (Rs 88.38 billion) for the financial year ended June 30, 2003, compared to Rs 10,324 crore (Rs 103.24 billion) recorded in the previous fiscal.
The gross total income in the period under review also fell to Rs 23,185.64 crore (Rs 231.86 billion) as against Rs 24,690.34 crore (Rs 246.90 billion) in July-June 2002, according to RBI's annual report for FY-03 released in Mumbai on Wednesday.
The net total income stood at Rs 15,561.41 crore (Rs 16,866.39 crore in FY-02) while the total expenditure was higher at Rs 6,726.41 crore (Rs 6,542.39 crore), it said.
The decrease in income from domestic sources was due to the fall in domestic assets and lower interest rates. The decline in income from foreign sources was due to reduction in international interest rates, the apex bank said.
The surplus transferable to the Central government for 2002-03 amounted to Rs 8,834 crore (Rs 88.34 billion), inclusive of Rs 1,717 crore (Rs 17.17 billion), towards interest differential on special securities converted into marketable securities.
During 2002-03, the return on foreign currency assets excluding capital gains less depreciation decreased to 2.8 per cent from 4.1 per cent because of lower interest rates abroad, it added.
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