India considering Rs 500 billion stimulus spending in 2017-18: govt sources

Time & Us
Last Updated: September 22, 2017 at 1:25 am

The government is considering a plan to loosen the fiscal deficit target so that it could spend an additional Rs 500 billion ($7.7 billion) in the financial year ending in March 2018, two government sources said on Thursday.
Both the officials declined to be named as the plan, aimed at reviving economic growth, is still to be made public.
On Wednesday, finance minister Arun Jaitley said the government was looking for ways to lift economic growth, which slipped to a three-year low of 5.7%‚ÄČin the quarter to end-June.