India to Boost Public Spending on Infrastructure: Finance Minister

Arun Jaitley ssaid that the Indian government estimates the country needs to spend $800 billion on infrastructure to grow 7 percent per annum.

Published: 19th January 2015 11:43 AM  |   Last Updated: 19th January 2015 11:43 AM   |  A+A-

Arun-jaitley-pti

|File Photo

NEW DELHI: India will increase public spending on infrastructure, Finance Minister Arun Jaitley said on Monday.

The Indian government estimates the country needs to spend $800 billion on infrastructure to grow 7 percent per annum, sharply higher than around 5.5 percent projected by the central bank for the current fiscal year that ends in March.

Concerned over slow economic growth, some government aides are also pushing to row back on fiscal deficit targets when Jaitley announces the 2015/16 federal budget next month. They have advocated more spending on infrastructure projects that could lift growth.

 

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