India Considering $7.7 Billion Stimulus Spending In 2017/18: Report

The government is looking spur growth after GDP growth slipped to a three-year low of 5.7 percent in the quarter to end-June.

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India Considering $7.7 Billion Stimulus Spending In 2017/18: Report

GDP growth slipped to a three-year low of 5.7 percent in the quarter to end-June.

New Delhi: The Indian government is considering a plan to loosen the fiscal deficit target so that it could spend an additional Rs 5 lakh crores ($7.7 billion) in the financial year ending in March 2018, two government sources said on Thursday.

Both the officials declined to be named as the plan, aimed at reviving economic growth, is still to be made public.

On Wednesday, Finance Minister Arun Jaitley said the government was looking for ways to lift economic growth, which slipped to a three-year low of 5.7 percent in the quarter to end-June.
 
© Thomson Reuters 2017


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