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Economy
In reply to the discussion: STOCK MARKET WATCH -- Tuesday, 27 August 2013 [View all]xchrom
(108,903 posts)25. India infrastructure projects set to boost economy
http://www.bbc.co.uk/news/business-23847059
The Indian government has approved infrastructure projects worth 1.83tn rupees ($28.4bn; £17.7bn) to revive the economy and boost the falling rupee.
Finance Minister P Chidambaram said 36 stalled projects in oil, gas, power, road and railways sectors were cleared.
"The message we are sending is that the investment cycle has restarted, and we are pushing it," he said.
The announcement came on a day the rupee hit a new record low, touching 65.6 against the US dollar.
The Indian government has approved infrastructure projects worth 1.83tn rupees ($28.4bn; £17.7bn) to revive the economy and boost the falling rupee.
Finance Minister P Chidambaram said 36 stalled projects in oil, gas, power, road and railways sectors were cleared.
"The message we are sending is that the investment cycle has restarted, and we are pushing it," he said.
The announcement came on a day the rupee hit a new record low, touching 65.6 against the US dollar.
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