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HIGHLIGHTS-India unveils budget aimed at boosting infrastructure and foreign investment


Reuters
Updated: 05-07-2019 11:54 IST
HIGHLIGHTS-India unveils budget aimed at boosting infrastructure and foreign investment

Finance Minister Nirmala Sitharaman in the Rajya Sabha on Thursday. Pic courtesy: Rajya Sabha TV Image Credit: ANI

India on Friday unveiled a budget aimed at boosting infrastructure and foreign investment, the first since the Bharatiya Janata Party led by Prime Minister Narendra Modi returned for a second term in power. Here are the highlights of Finance Minister Nirmala Sitharaman's budget for the 2019/20 fiscal year beginning April 1: INVESTMENT

* India will ease foreign direct investment restrictions in single-brand retail * Will open up FDI in aviation, insurance, media and animation sectors

* Important to get retail investors to invest in treasury bills ECONOMY AND INFRASTRUCTURE

* India will become a $3trn economy in the current fiscal year, and a $5trn economy in the next few years * India to invest heavily in infrastructure and job creation

* The government will carry out a restructuring of highway building programme to ensure enough capacity is created * Railway infrastructure will need an investment of $72bln between 2018 and 2030

* India will enter into aircraft financing and leasing activities

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : India