India's spending on growth to bring the economy on track
Updated Feb 12, 2021 05:07 am
- India has vowed to spend almost half-a-trillion dollars to bring the pandemic-ravaged economy back onto a growth path, but that risks leaving vulnerable sections that still need support without immediate help.
- While Prime Minister Narendra Modi’s administration sees a 26% jump in capital expenditure -- money for creating or maintaining assets, including infrastructure -- for the year starting April 1, the increase in total spending is less than 1 percentage point. That’s partly due to cuts or slim increases for some social sector programs, even after the government has spent a record this fiscal year on rural jobs and food programs.
local_offerTags: pandemic ravaged economy PM Modi capital expenditure
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