Fiscal policy commitment: increased short term spending funded by borrowing with a plan for medium term fiscal consolidation.
Government will present the Union Budget in early July, assess prior stimulus measures, and pursue a concrete short term and medium term growth strategy. Near term policy includes increased public spending funded by incremental borrowing to restore growth and employment, consultations with bankers to improve finance availability, re appraisal and strengthening of infrastructure projects, and a commitment to fiscal consolidation over a two to three year period. The Government will advance financial sector and regulatory reforms and bring amendments to the Prevention of Money Laundering Act into force to bolster the anti money laundering framework.