India, riding economic boom, boosts budget spending
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India said on Wednesday it would use tax revenue generated by a booming economy to raise spending on health, education and its flagging farm sector to improve living conditions for hundreds of millions of the poor.
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India's economy grew at a faster-than-expected annual rate of 9.3% in the second quarter, according to official figures.
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NEW DELHI, AUGUST 26: A voice vote was enough to complete the three-stage Budgetary exerciseâand clear over Rs 500,000 crore worth of finances.
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India on Tuesday led a clutch of   emerging economies in asserting their growing clout on the   world stage by objecting to a landmark overhaul of the way the   International Monetary Fund is run.
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The Indian government increases retail prices of petrol, diesel and cooking gas to bring them in line with recent global rises.
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The number of Indian subscribers for landline and mobile phone services is soaring, putting the country on track to have 250 million users by 2007.
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Indian Prime Minister Manmohan Singh said that profitmaking state-run firms would fund new growth by tapping the capital markets without being privatised.
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India prepares to unveil its annual budget, with measures to boost farming and target inflation set to feature highly.
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Days after the Indian stock market hit an all-time high, India's finance minister wooed foreign investors on Sunday, promising more reforms and claiming that the country's economy &#151; one of the world's fastest growing &#151; offered unprecedented opportunities.
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IndiaÂs manufacturing grew 12.1 percent in the first half of the countryÂs fiscal year, which ended in September, compared with 9.5 percent in the period last year. The fast-paced growth of the manufacturing sector has been important in raising IndiaÂs economic output more than 8 percent annually. According to a survey by the Confederation of Indian Industry, a trade organization, more than 34 sectors of the 125 surveyed reported production growth greater than 20 percent. Foreign direct investment in India doubled to $4.4 billion in the first half of the fiscal year, Kamal Nath, above, commerce and industry minister, said.
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The country&#39;s economy has accelerated, carried by strong household and government spending, to reach its fastest annual pace in nearly four years, official figures show.
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Construction spending sprang back to life in July, rising to the highest level on record, the government reported Wednesday.
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UK public spending surges last month to the highest since records began 10 years ago, official figures show.
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India will improve on its already rapid economic growth levels in the years ahead, Prime Minister Manmohan Singh predicted on Monday.
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The expansion unexpectedly accelerated last month to the highest level in more than a year, a sign the economy is strengthening.
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India's economy grew at an annual rate of 9.1% in the six months to September, the government says.
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India's inflation rate rose above eight percent, its highest level in over three and a half years, on the back of an uptick in food and fuel prices, government data showed.