Finance minister Nirmala Sitharaman blamed "global factors such as the Russia-Ukraine conflict" and soaring crude oil prices for the weakening of the Indian Rupee against the US dollar.
Government will expand federal guarantees on loans to businesses to $60.7 billion from an earlier limit of $40.37 billion, says Finance Minister Nirmala Sitharaman.
The Modi government takes the politically fraught step of selling its stake in banks, which have been losing money.
Both sides are trying to reach an agreement on the farmers' demand that new agricultural reform laws be repealed but talks have failed seven times so far.
India's economy contracted between July and September, putting it among the worst-performing major advanced and emerging economies.
Consumers pending, private investments and exports all collapsed during the world's strictest lockdown imposed in late March to combat the pandemic.
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