March 8, 2018 / 6:57 AM / 3 months ago

Indian govt seeks parliament nod for $13 bln net extra spending in 2017/18 - statement

NEW DELHI, March 8 (Reuters) - The Indian government on Thursday sought parliament’s approval to spend a net additional 853 billion rupees ($13.14 billion) in new spending in the current fiscal year to end-March 2018, a finance ministry statement said.

This extra spending is unlikely to impact the country’s fiscal deficit target for 2017/18 as India had raised the fiscal deficit target to 3.5 percent of gross domestic product from 3.2 percent earlier.

$1 = 64.9200 Indian rupees Reporting by Nigam Prusty and Manoj Kumar; Editing by Malini Menon

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