Public spending News

Megastar Amitabh Bachchan, who is surviving only on 25 per cent of his liver as the rest has been damaged by the deadly Hepatitis B virus, today called for higher budget spend to prevent the fatal disease.

India has been growing by 7-7.5 percent, and for the country to accelerate, all sectors have to contribute, he said at the MGNREGA Sammelan-2016.

Moody's Investors Service on Tuesday said investment levels in India are showing early signs of recovery driven by an upturn in capital expenditure and increased public spending.

The government auditor needs to adopt latest professional practices while scrutinising public spending, Comptroller and Auditor General (CAG) Shashi Kant Sharma has said.

With one-and-a-half months left for the Budget, Finance Minister Arun Jaitley on Monday said the government will take "special steps" to boost public spending on infrastructure and initiate measures to rationalise subsidies.

The government estimates the country needs to spend $800 billion on infrastructure to grow 7 percent per annum.

Saudi Arabia will continue massive public spending despite a 50 percent drop in the price of oil which provides the bulk of the kingdom's revenue, the finance minister said Wednesday.