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Budget data to give clues to Modi's capex promise

The government needs to ramp up spending on roads, railways and ports to spur economic recovery

Reuters  |  New Delhi 

Prime Minister Narendra Modi hit his borrowing targets in the last fiscal year by slashing $19 billion in capital spending and data on Friday will show whether he has taken his foot off the brakes in April. Modi, who has completed one year in power this week, managed to hit a budget deficit goal of 3.9% of GDP in the fiscal year to March with a severe capex squeeze in the final three months of the year. That helped offset the impact of weak tax revenue but, as Modi looks to prime Asia's third-largest economy for recovery, his government will need to ramp up spending on roads, ...

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First Published: Fri, May 29 2015. 15:07 IST