The Indian Government has said that it is in favour of increasing public spending to boost the economic growth.
Commenting on the issue, Finance Minister Arun Jaitley told the media, "Bad monsoon of last two years has resulted in rural spending going down. In such a situation, the government needs to come forward. Government must increase its spending. The pace of public spending has increased."
"If you look at the global situation there is slow growth. The economies, which were earlier compared with India like, South Africa, Brazil, Russia are all growing slow. In a way there is a negative growth rate, but economies are recovering," he added.
The Minister further added that China, which was the fastest growing major economy for the last three decades was expected to still grow by at least 10 per cent. But there has been a slowdown in China that has had an impact on the global economy.