India to invest $1.5 trillion to boost economyChristian 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.
Asia Finance Minister Nirmala Sitharaman
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. ■