November 28, 2019 / 7:06 AM / 9 days ago

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

FILE PHOTO: People walk past at a screen displaying India's Finance Minister Nirmala Sitharaman presenting the budget, on a facade of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 5, 2019. REUTERS/Francis Mascarenhas/File Photo

NEW DELHI (Reuters) - India’s federal 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 (IDBI.NS) 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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