India’s Modi govt releases budget to get growth back up
BENGALURU: Indian Prime Minister Narendra Modi’s government unveiled the budget for 2019/2020 on Friday, seeking to reverse weakening growth and investment that threaten to take the shine off a recent landslide election victory.
Finance Minister Nirmala Sitharaman, presenting the annual budget statement to parliament, said the government planned structural reforms to kickstart foreign and domestic investment.
COMMENTARY DEEPAK JASANI, HEAD OF RETAIL RESEARCH, HDFC SECURITIES, MUMBAI “The budget is not very different from the interim budget even as market participants await fiscal deficit proposals.”
“Trade will be fluctuating. Until the fiscal deficit proposals are heard, one should not jump to conclusions.”