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India seeks $10.7 billion extra spending for FY08

India seeks $10.7 billion extra spending for FY08
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First Published: Wed, Mar 12 2008. 04 12 PM IST
Updated: Wed, Mar 12 2008. 04 12 PM IST
Reuters
New Delhi: India sought on Wednesday, 12 March, parliament’s approval to spend an extra Rs430.6 billion ($10.7 billion) in the year to March 2008, including Rs100 billion to partly fund a debt relief plan for farmers announced in the 2008-09 budget.
It said gross additional spending would be Rs1.4 trillion, out of which 973.2 billion would come from savings by various ministries.
In a supplementary demand for grants laid before parliament by the finance ministry, the government said it would create a fund that would be used to waive the debts of small farmers.
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First Published: Wed, Mar 12 2008. 04 12 PM IST