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Economy | Govt to spend more on infrastructure
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New Delhi: India will increase spending on infrastructure such as roads, utilities and airports and on reviving 34 state-run companies, President Pratibha Patil told Parliament on Thursday.
The government will increase spending on infrastructure to 9% of the gross domestic product in the five years ending 31 March 2012, from 5%, Patil said. It will invest Rs14,000 crore to revive some state-controlled companies, she said.
—Bloomberg
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Flagship govt schemes to get Rs33,000 cr
New Delhi: Ahead of the Lok Sabha elections, the United Progressive Alliance government is planning to provide a boost to its flagship programmes, including Bharat Nirman, by raising the allocation to the segment by Rs33,000 crore in the interim budget, to be tabled in Parliament on 16 February.
The outlay for the flagship programmes, which, in addition to the Bharat Nirman scheme, include the National Rural Employment Guarantee Scheme, Sarva Shiksha Abhiyan and others, is proposed to be raised to Rs1.23 trillion during 2009-10 from Rs90,000 crore last year, representing an increase of about 37%.
—PTI
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India may miss foreign investment target
New Delhi: The country is likely to miss the foreign direct investment target of $35 billion (Rs1.7 trillion) for the current fiscal due to the global credit squeeze.
Commerce minister Kamal Nath on Thursday said the country would be able to receive $30 billion foreign investment inflows in the current fiscal year.
The foreign investment inflows of $19.7 billion in the April- November period have made it clear that this fiscal’s target is too ambitious to achieve given the recession in the US and other developed economies.
—PTI
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