He assured fears of food shortages were far-fetched.
To cover most of the gap, the road ministry plans to raise $7 billion.
Modi's government plans to support domestic demand
The government had no option but to cut spending to meet its borrowing targets.
Officials said the government had no option but to cut spending.
India likely to overtake China on strong GDP growth.
The RBI holds its next policy meeting in early June.
The finance ministry is seeking to speed up deals with outside investors.
Modi sees export-led growth one of the best ways to create jobs.
The introduction of GST would constitute India's biggest reform.
Modi has taken a slew of measures to attract investment, but he has yet to initiate steps that could help repair corporate balance sheets.
The convertibility is RBI Governor's 'next big ambitious goal'.
New Delhi was reluctant to spook investors by clipping the bank's wings
India will be able to manage potential inflationary pressures if forecasts of sub-par monsoon
Exports to Europe shrank by near 2 per cent in the 11 months.
India needs to move towards full capital account convertibility to become a leading global economy.
Consumer food price inflation eased to 6.14%.
It was 2.6% in January.
New Delhi has missed its target for partial privatisations for the past five years
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