India to invest $1.39 trillion in infrastructure as slowdown fear jitters

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India to invest $1.39 trillion in infrastructure as slowdown fear jitters

Finance Minister of India, the fifth-largest economy of the world by Nominal GDP with a modest GDP growth of over 5 per cent for last six years, said on Saturday (November 30th) that the Southern part of Asia’s economic HubSpot, India would reveal a string of infrastructure projects as early as this month worth of as much as $1.39 trillion or 100 trillion Indian rupees over next five years, as the country was seeking to push aside a growing uproar over its GDP growth that faltered to 4.5 per cent in Q3, 2019, a below-five per cent reading for the first time in last six years.

In point of fact, Indian Finance Minister Nirmala Sitharaman’s Saturday’s (November 30th) comment on new fiscal stimulus in form of an additional expense in infrastructure came forth a day after Friday’s (November 29th) data had revealed that India’s economic growth was faltered to a figure of 4.5 per cent during the quarter that ended on September 30th, remarking at its weakest pace of growth since 2013 which eventually had upped the antes over PM Narendra Modi’s government to accelerate an economic reform.

Meanwhile, adding that the projects would be disclosed once the funds were readied, Sitharaman said in a business summit in Mumbai on Saturday (November 30th), “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.

That task is nearly completed. Before December 15, we will be able to announce frontloading of at least ten projects. ”