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Friday, December 11, 2009

Parliament OKs $5.5 bln additional spend

The Lok Sa bha on Friday approved extra spending of $5.5 billion for the fiscal year ending March 2010.

The additional spending is needed for food and fertiliser subsidies, wages, infrastructure projects and an equity infusion into state-run carrier Air India.

Finance Minister Pranab Mukherjee has said the additional spending need not be funded through additional borrowing.

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