Subsidy outlay rises 49 pct in H1 2012/13: report
NEW DELHI (Reuters) - India's expenses on major subsidies, including those on food, jumped by almost half to 1.42 trillion rupees in the first half of the fiscal year 2012/13, the finance ministry's mid-year economic review said on Monday.
The report also said defence spending in the first half of the fiscal year was up 13 percent to 849.3 billion rupees. The full-year defence budget is expected to be 1.93 trillion rupees.
(Reporting by Arup Roychoudhury; Editing by Jijo Jacob)
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India's economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest rates. Full Article