India’s finance minister, Nirmala Sitharaman, announced big raises in manufacturing and infrastructure spending in her annual budget, with an increase to capital expenditure of roughly 9%. The government is trying to boost trade and investment in response to America’s 50% tariffs on some Indian goods. Ms Sitharaman said she wanted to enhance productivity and build “resilience to volatile global dynamics.
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India’s finance minister, Nirmala Sitharaman, announced big raises in manufacturing and infrastructure spending in her annual budget, with an increase to capital expenditure of roughly 9%. The government is trying to boost trade and investment in response to America’s 50% tariffs on some Indian goods. Ms Sitharaman said she wanted to enhance productivity and build “resilience to volatile global dynamics.