RSS   Newsletter   Contact   Advertise with us

India to invest $1.5 trillion to boost economy

Christian Fernsby ▼ | July 6, 2019
The Indian government announced the budget for the 2019-2020 fiscal year that foresees investments worth almost US$1.5 trillion in infrastructure over next five years.
Finance Minister Nirmala Sitharaman
Asia   Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman disclosed the details at Parliament, where she explained that the objective is to reduce the cost of transporting Indian products and increase the competitiveness of the Asian nation.

This is the first government budget proposal since Narendra Modi was re-elected as prime minister in April. He intends to double the country's GDP in less than five years and take it to US$5 trillion.

Sitharaman also announced economic policies to promote the agricultural sector and thus support farmers who represent about 60 percent of the population.

The provisions are intended to counteract the recent slowdown in Indian growth, which was 6.8 percent in 2018, but fell from January to March 2019 about 5.8 percent, the lowest figure in five years.