ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

India cranks up infrastructure spending in new budget

New Delhi includes plans for central bank digital currency, virtual assets tax

India's Finance Minister Nirmala Sitharaman holds up a folder as she leaves her office to present the federal budget in parliament in New Delhi on Tuesday.   © Reuters

NEW DELHI -- India unveiled a sharp increase in infrastructure spending in an expanded budget for the coming financial year, as the government of Prime Minister Narendra Modi seeks to spur a recovery from the pandemic.

Finance Minister Nirmala Sitharaman's budget for April 2022-March 2023 included a 35.4% increase in capital expenditure to 7.5 trillion rupees (about $100 billion) -- about 2.9% of gross domestic product.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more