India budget leans on infrastructure to spur economic growth
ABC News
Indian Prime Minister Narendra Modi’s government has included hefty spending on infrastructure projects in its annual budget, looking to spur growth and improve its popularity just ahead of key state elections
NEW DELHI -- Indian Prime Minister Narendra Modi’s government included hefty spending on roads, airports and other infrastructure in an annual budget presented to Parliament on Tuesday, looking to spur growth and improve its popularity just ahead of key state elections.
The budget for the coming fiscal year, which starts on April 1, calls for $533 billion in spending, up from $477 billion in the current year, Finance Minister Nirmala Sitharaman said in presenting it to lawmakers.
“The economy has shown resilience to come out of the pandemic. We need to sustain the level of growth,” Sitharaman said.
She said the new infrastructure investments were part of the government’s economic blueprint for the next 25 years.
