Govt to borrow big for nearly ₹35 trillion Budget3 min read . Updated: 01 Feb 2021, 05:31 PM IST
- Fueled by a bigger-than-expected spending deficits and borrowing, as well as sales of govt assets and dividends from state firms, the ₹35 trillion ($480 billion) budget sent bonds tumbling and stocks rallying.
- It also aims to bolster the nation’s financial stability, including setting up a company to manage a growing pile of bad loans
India unveiled a spending plan worth almost a half-trillion dollars as Prime Minister Narendra Modi’s government seeks to dig Asia’s third-largest economy out of a pandemic-induced slump.
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