Indian budget: No major reforms, but boost to investment, growth
March 1 , 2015
India’s finance minister Arun Jaitley unveiled a budget which aims to boost investment and growth, but did not announce any so-called “big bang” reforms.
The first full budget of the Narendra Modi government includes a corporate tax cut and benefits for the poor such as a new social security scheme.
Ahead of the budget, the Indian government’s economic survey anticipated a growth exceeding 8% for 2015-16.
Jaitley expressed confidence at achieving the goal of cutting down fiscal deficit to 4.1% of the GDP, and announced a $11.3 billion hike in infrastructure spending.