01-12-201901-12-2019 18:47:02 IST
Updated On 02-12-2019 13:55:01 ISTUpdated On 02-12-20192019-12-01T13:17:02.284Z01-12-2019 2019-12-01T13:16:52.203Z - 2019-12-02T08:25:01.105Z - 02-12-2019
On the occasion of Narendra Modi government completing six months in power, the government has announced that it is planning to invest Rs 100 lakh crores (USD 1.39 trillion) in various infrastructure projects. Finance minister Nirmala Sitharaman said that the government was making the move in a bid to provide a push to the economy.
"A set of officers are looking into the pipeline of projects that can be readied so that once the fund is ready, it could be front-loaded on these projects," Sitharaman said at a business summit in Mumbai.
"That task is nearly completed. Before December 15, we will be able to announce frontloading of at least ten projects," she added.
Narendra Modi's government has come under sharp criticism of late for the economic slowdown where the growth rate has seen a major slump.
PM Modi won a second term in May and has taken various measures since 2014 to spur growth, including cutting the corporate tax and speeding up privatisation of state-run firms.
But several economic indicators show domestic consumption is weak, and many economists expect the current slowdown could persist for another two years.
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