India boosted healthcare spending by 135% and lifted caps on foreign investment in its vast insurance market yesterday to help revive an economy that suffered its deepest recorded slump as a result of the pandemic. Delivering a budget statement to parliament, Finance Minister Nirmala Sitharaman projected a fiscal deficit of 6.8% of gross domestic product for 2021/22, higher than the 5.5% forecast by a recent Reuters poll of economists. The current year was expected to end with a deficit of 9.5%, she said, well up from the 7% expected earlier. Prime Minister Narendra Modi said the budget was aimed at creating “wealth and wellness” in a country that is battling the world’s second highest cor
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