Kartik Goyal for Bloomberg reports that an expansion of health insurance programs to the poor is in the plan, along with the idea to guarantee wheat and rice supplies at subsidized prices to about 70% of India’s population, or 1.2 billion people. [ETF Chart of the Day: India.]
“Essentially we have a re-balancing of expenditure towards government spending and away from investment, which is the classic textbook crowding out that’s clearly a problem,” India Deputy Governor Subir Gokarn said, according to the Bloomberg report. “And if you’re squeezing investment that is also impairing long term growth potential.”
ETFs that track companies in India include:
- WisdomTree India Earnings Fund (NYSEArca: EPI)
- PowerShares India (NYSEArca: PIN)
- iShares S&P India Nifty Fifty (NasdaqGM: INDY)
PowerShares India
Tisha Guerrero contributed to this article.