NEW DELHI (AP) — India’s finance minister unveiled on Thursday a short-term budget to meet government expenditures until national elections are held by May, saying it will boost spending on infrastructure projects, build homes for poor villagers and cut the fiscal deficit by reducing subsidies.
The short-term budget is mostly free of big-spending new programs.
The short-term budget must be approved by Parliament.
The government allocated $145 billion for infrastructure projects in the short-term budget.
The Modi government’s budget last year totaled $550 billion and focused on ramping up capital spending to spur economic growth.
Persons:
Nirmala Sitharaman, Narendra Modi’s, giveaways, Modi, Sitharaman, Sibi Arasu
Organizations:
DELHI, —, Parliament, Monetary Fund
Locations:
India, United Kingdom, Bengaluru