Narendra Modi budgets for growth, aims to curb deficit
- 5 years ago
India's new government on Thursday unveiled a first budget that seeks to revive growth and curb borrowing, but left open questions on how it will reduce the fiscal deficit and restore investor confidence.
Expectations had been high that Prime Minister Narendra Modi would use India's strongest election mandate in 30 years to take radical steps comparable to the 1991 market reforms that unleashed an era of high economic growth.
After two weak years, the government announced steps to boost capital spending in Asia's third-largest economy and reassure foreign investors that they will get fair treatment.
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Expectations had been high that Prime Minister Narendra Modi would use India's strongest election mandate in 30 years to take radical steps comparable to the 1991 market reforms that unleashed an era of high economic growth.
After two weak years, the government announced steps to boost capital spending in Asia's third-largest economy and reassure foreign investors that they will get fair treatment.
For More information on this news visit : http://www.newsx.com/
Connect with us on Social platform at : http://www.facebook.com/newsxonline
Subscribe to our YouTube Channel : http://www.youtube.com/newsxlive