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Government seeks parliament nod for $13 bln net extra spending

Reuters  |  NEW DELHI 

By Manoj KumarNEW DELHI (Reuters) - The Indian government on Thursday sought parliament's approval to spend a net additional 853 billion rupees ($13.14 billion) in new spending in the current fiscal year to end-March 2018, a finance ministry statement said.Prime Minister Narendra Modi, who faces national elections next year, has pushed up spending on rural infrastructure and jobs-creating sectors to bolster his popularity among voters.This extra spending is unlikely to impact the country's fiscal deficit target for 2017/18 as India had raised the target to 3.5 percent of gross domestic ...

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First Published: Thu, March 08 2018. 13:07 IST