November 28, 2019 / 7:28 AM / 18 days ago

India seeks parliament nod to spend additional $2.7 billion in 2019-20

A man counts Indian currency notes inside a shop in Mumbai, August 13, 2018. REUTERS/Francis Mascarenhas/Files

NEW DELHI (Reuters) - India’s government has sought parliament approval to spend an additional 189.95 billion rupees ($2.65 billion) for the current financial year that ends in March, an official document showed on Thursday.

The government proposes to spend 25 billion rupees for capital infusion in state-run insurance companies in the current financial year, and 45.57 billion rupees for capital infusion in IDBI Bank through bonds, the statement tabled in the lower house of parliament said.

Reporting by Aftab Ahmed, Writing by Manoj Kumar; Editing by Sherry Jacob-Phillips

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