Punjab Finance Minister Harpal Singh Cheema has called on the Indian government to share the Reserve Bank of India’s (RBI) record dividend of ₹2.87 lakh crore with the states. This transfer, which is among the largest in the RBI's history, follows the central bank's total income of around ₹4 lakh crore. Cheema described the payout as 'extraordinary' and stressed that such windfall gains should be included in the divisible tax pool shared with states. He pointed out that both the Union government and states are grappling with economic pressures stemming from global uncertainties and supply shocks. Cheema expressed concern that excessive extraction from the RBI's reserves could undermine its financial strength and institutional independence, which are crucial for maintaining India's economic stability. He emphasized the RBI's role as the country's 'economic shock absorber and monetary stabiliser' during crises. Furthermore, he urged the RBI to preserve adequate reserves and policy flexibility, warning that a weakened central bank would hinder India’s aspirations for a strong and resilient economy. Cheema's remarks highlight the importance of cooperative federalism and fiscal fairness in addressing the economic challenges faced by both the Union and state governments.