Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Tue, 07 Jun 2022 10:01 AM IST
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Speaking on India’s growth outlook, Sitharaman said economic growth would be helped by fiscal spending as well as boosting investment. The Finance Minister said that the growth of the economy is supported by investment incentives along with fiscal spending. The government proposes to significantly boost public investment by raising capital expenditure by 35.4 per cent to Rs 7.5 lakh crore or 2.9 per cent of gross domestic product (GDP) in the current fiscal. Apart from this, BRICS Finance Ministers and Governors of Central Banks also discussed financial issues like Infrastructure Investment, New Development Bank, BRICS Contingency Reserve Arrangement (CRA).
Expansion
Union Finance Minister Nirmala Sitharaman said that the country’s growth will be driven by fiscal spending. Participating online at the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) chaired by China, he said that BRICS needs to engage in dialogue and exchange experiences, concerns and ideas for a sustainable and inclusive reconstruction. The facility should continue to serve as a platform.
Speaking on India’s growth outlook, Sitharaman said economic growth would be helped by fiscal spending as well as boosting investment. The Finance Minister said that the growth of the economy is supported by investment incentives along with fiscal spending. The government proposes to significantly boost public investment by raising capital expenditure by 35.4 per cent to Rs 7.5 lakh crore or 2.9 per cent of gross domestic product (GDP) in the current fiscal. Apart from this, BRICS Finance Ministers and Governors of Central Banks also discussed financial issues like Infrastructure Investment, New Development Bank, BRICS Contingency Reserve Arrangement (CRA).