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Home Economy

India’s Economic Growth to Be Supported by Fiscal Spending: FM Sitharaman

by Economy India
June 7, 2022
Reading Time: 1 min read
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Finance minister Nirmala Sitharaman said that the country’s growth will be driven by fiscal spending. Participating virtually in the second BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the China chairmanship, Sitharaman said BRICS should continue to serve as a platform to engage in dialogues and facilitate exchange of experiences, concerns and ideas for rebuilding a sustainable and inclusive growth trajectory.

Speaking on India’s growth outlook, she said the economic growth will continue to be supported by fiscal spending along with an investment push, imparting momentum to the economy based on the idea of growth at macro level complemented by all-inclusive welfare at micro level.

The government has proposed to significantly step up the public investment by raising capital expenditure by 35.4 percent to Rs 7.5 lakh crore or 2.9 percent of the GDP in the current financial year.

The BRICS Finance Ministers and Central Bank Governors also discussed other legacy BRICS finance issues such as infrastructure investment, New Development Bank (NDB), BRICS Contingent Reserve Arrangement (CRA) etc. (Money Control)

Tags: Economy GrowthIndian EconomyNirmala Sitharaman
Economy India

Economy India

Economy India is one of the largest media on the Indian economy. It provides updates on economy, business and corporates and allied affairs of the Indian economy. It features news, views, interviews, articles on various subject matters related to the economy and business world.

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