India announces stimulus package to boost growth

NEW DELHI, December 7, 2008 (AFP) – The Indian government on Sunday announced an extra four billion dollars in spending to shield the economy from the impact of the global financial crisis. The government said it would also ensure a substantial increase in expenditure for next year’s budget. “The government has decided to seek authorisation for additional planned expenditure of up to 200 billion rupees (four billion dollars) in the current (financial) year,” Prime Minister Manmohan Singh’s office said in a statement.