India to raise spending on job creation before election
Автор: Al Jazeera English
Загружено: 2023-02-02
Просмотров: 6326
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Prime Minister Narendra Modi’s government presented to Parliament an annual budget of $550bn that calls for ramping up capital spending by 33 percent to spur economic growth and create jobs in advance of a general election next year.
Finance Minister Nirmala Sitharaman said on Wednesday private investment was rising after the coronavirus pandemic and the government should focus on driving growth.
India’s economy is projected to grow 7 percent in the fiscal year ending in March. The government forecasts growth of 6-6.5 percent next year, but it is struggling to generate enough jobs for its population of 1.4 billion people.
Unemployment remains one of India's biggest challenges.
Al Jazeera’s Pavni Mittal has more from New Delhi.
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