Insta
Government Mulls Extra Rs 500 Billion Spending To Put The Brakes On Economic Slowdown
Swarajya Staff
Sep 21, 2017, 09:45 PM | Updated 09:45 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The government is mulling a plan to loosen its fiscal deficit target so it up can spend up Rs 500 billion to halt the economic slowdown, reported Reuters today (21 September).
The additional spending, according to the Reuters report, is estimated to widen the fiscal deficit for the financial year ending next March to 3.7 per cent of gross domestic product from a budgeted target of 3.2 per cent.
It will reportedly be directed to bank recapitalisation, rural jobs programme and rural housing.
The government had indicated earlier that it may come up with a booster shot for the economy, with the focus on reviving a few sectors. Finance Minister Arun Jaitley had hinted that steps might be taken after consultations with Prime Minister Narendra Modi.
Reviving the economy has clearly been on top of Jaitley’s agenda as he held several meetings this week on halting the slowdown.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.