India's US$16b wage hike may eat into capital spending
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New Delhi
A US$16 billion pay rise for India's public servants and costly food and farm programmes could force the country's finance minister to cut capital spending in its annual budget, officials and economists say.
The spending pressure on Finance Minister Arun Jaitley threatens to worsen imbalances in India's US$2 trillion economy as consumption outpaces investment, undermining Prime Minister Narendra Modi's promise of better jobs for its 1.3 billion people.
Share with us your feedback on BT's products and services
TRENDING NOW
Japan stocks look set for new highs in 2025 on earnings, reform
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
