India ramps up spending, cuts deficit in $550 bln budget ahead of 2024 vote

Capital investment is being increased steeply for the third year in a row by 33% to 10 trillion rupees." Graphics: Reuters Sitharaman said the government would target a budget deficit of 5.9% of GDP for 2023/24, down from 6.4% for the current year. Graphics: Reuters Moody's Investors Service said the narrower fiscal deficit projection pointed to the government's commitment to longer-term fiscal sustainability. Graphics: ReutersSitharaman said the government would target a budget deficit of 5.9% of GDP for 2023/24, down from 6.4% for the current year. Graphics: ReutersMoody's Investors Service said the narrower fiscal deficit projection pointed to the government's commitment to longer-term fiscal sustainability.