The government on Tuesday launched a new project to build more than 3,000 fiber optic factories in five states in South Asia’s third-largest economy to help farmers grow their crops.
The Prime Minister’s office said the scheme will cost about $3.4 billion.
It will help farmers who have been unable to use conventional fiber optic transmission because of low-quality, slow-moving, or inefficient wires or fiber optics.
The government hopes to create about 3,600 new jobs and generate about $2.2 billion for the economy.
It has said it will also build the country’s first fiber optic network in the country.
Last year, the government said it would spend $1.2 trillion on building new roads, bridges and airports, while creating about 1.5 million jobs.
The government has been struggling to meet its fiscal deficit target of 6.2 percent of GDP.
In the latest financial update on Tuesday, the finance ministry said it expects the government to achieve the target within four years and that a final plan would be ready by 2019.
The government had earlier said it planned to spend $2 trillion for the construction of roads and bridges, and create nearly 1.7 million jobs during the first four years of the new project.
“The construction of fiber optic networks across the country is expected to increase demand for goods and services from the private sector, as well as contribute to economic growth,” the finance department said.