NEW DELHI - Prime Minister Narendra Modi’s government held back on lavish populism in a pre-election budget unveiled on Feb 1 that balanced fiscal consolidation with increased spending on infrastructure as a way to further boost growth in the world’s fastest growing economy.
In the interim budget – which will tide the government over till elections scheduled to be held by May 2024 – Finance Minister Nirmala Sitharaman announced an increase in capital expenditure by 11 per cent to 11.11 trillion rupees (S$179.4 billion).
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