India boosts healthcare spending, opens up insurance in "get-well-soon" budget

India boosts healthcare spending, opens up insurance in "get-well-soon" budget

A man looks up at an electronic ticker board that indicates stock figures at the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, Jan. 27, 2017. Photographer: Dhiraj Singh/Bloomberg

India boosted healthcare spending by 135% and lifted caps on foreign investment in its vast insurance market on Monday to help revive an economy that suffered its deepest recorded slump as a result of the pandemic.

Delivering a budget statement to parliament, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 6.8% of gross domestic product for 2021/22, higher than the 5.5% forecast by a recent Reuters poll of economists.

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