India on Friday unveiled an interim budget with giveaways for rural citizens, in what is being seen as a critical test for Prime Minister Narendra Modi, who is facing anger over depressed farm incomes and unemployment with a general election just months away.
Here are the highlights of interim Finance Minister Piyush Goyal's budget for the 2019/20 fiscal year beginning April 1.
- India to allocate 750 billion rupees ($10.56 billion) per year to support farmers' incomes
- Impact of 200 billion rupees in the current fiscal year
- Vulnerable farmers to receive 6,000 rupees per year under a new scheme
- Government to allocate 600 billion rupees for a rural employment scheme in 2019/20
- India to allocate 190 billion rupees for construction of rural roads in 2019/20
- India's current account deficit for 2018/19 seen at 2.5 pct of GDP
- Fiscal deficit for 2018/19 seen at 3.4 per cent of GDP
- Goyal says expects other banks on the central bank's Prompt Corrective Action list to be removed soon.