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NEW DELHI(Reuters) - India boosted healthcare spending by 135% and lifted caps on foreign investment in its vast insurance market on Monday to help revive an economy that suffered its deepest recorded slump as a result of the pandemic.
India's Finance Minister Nirmala Sitharaman holds up a folder with the Government of India logo, as India's Chief Economic Advisor Krishnamurthy Subramanian and Minister of State for Finance and Corporate Affairs Anurag Thakur look on as she leaves her office to present the federal budget in the parliament in New Delhi, India, February 1, 2021. REUTERS/Anushree Fadnavis
Delivering a budget statement to parliament, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 6.8% of gross domestic product for 2021/22, higher than the 5.5% forecast by a recent Reuters poll of economists.