India's US$16b wage hike may eat into capital spending
Tue, Feb 23, 2016 - 5:50 AM
Mr Jaitley, who presents his third budget on Feb 29, could raise taxes on services and petroleum products to help cover the extra outlays.
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...