India to focus on fiscal consolidation and capital spending: K Subramanian

The Indian government plans to focus on fiscal consolidation while pushing up state capital spending to bolster growth prospects, a top government economic adviser said on Wednesday.

India expects to achieve double-digit growth in the current year and economic reforms are likely to push future growth prospects, Krishnamurthy Subramanian, chief economic adviser at the finance ministry, said at a virtual summit of US and Indian industry captains.