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Highlights: India unveils Budget 2019 aimed at kickstarting rural employment

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Reuters NEW DELHI

By Alasdair Pal

NEW DELHI (Reuters) - India on Friday unveiled a budget aimed at tackling rural discontent, in what is being seen as a critical test for Prime Minister Narendra Modi who is facing anger over depressed farm incomes and unemployment, with a general election just months away.

Here are the highlights of interim Finance Minister Piyush Goyal's budget for the 2019/20 fiscal year beginning April 1.

- Government to allocate 600 billion rupees ($8.45 billion) for a rural employment scheme in 2019/20

- India to allocate 190 billion rupees for construction of rural roads in 2019/20

- India's current account deficit for 2018/19 seen at 2.5 pct of GDP

 

- Fiscal deficit for 2018/19 seen at 3.4 percent of GDP

- Goyal says expects other banks on the central bank's Prompt Corrective Action list to be removed soon

($1 = 71.0420 Indian rupees)

(Complied by by Alasdair Pal; Editing by Krishna N. Das)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 01 2019 | 11:34 AM IST

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