Govt to fund 40 percent cost of east India gas pipeline project

NEW DELHI (Reuters) - The Indian government will partly fund a pipeline project linking five eastern states, the first such move by the country as it aims to gradually move to a gas-based economy.

The government will fund 40 percent cost of the 129.4 billion rupee ($1.93 billion) pipeline project, measuring 2,439 kilometres, Oil Minister Dharmendra Pradhan said.

($1 = 67.0450 rupees)

(Reporting by Nidhi Verma; Editing by Malini Menon)