India doubles healthcare spending while opening up insurance in ‘get well soon’ budget.

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India proposed doubling healthcare spending in an annual budget unveiled today and lifted caps on foreigners investing in its vast insurance market to help revive an economy that suffered its deepest recorded slump as a result of the pandemic. Delivering her budget statement to parliament, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 6.8% of gross domestic product for 2021/22. The current year was expected to end with a deficit of 9.5%, she said, well up from the 7% expected earlier.

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