India Budget 2016: Winners and Losers

  • Farmers, poor families, state-run banks have reason to smile
  • Smokers, luxury car drivers, and coal producers get smacked

Arun Jaitley, India's finance minister, Jayant Sinha, State finance minister, second right, and other members of the finance ministry in New Delhi, India, on Feb. 29.

Photographer: Udit Kulshrestha/Bloomberg

India’s annual budget is one of the nation’s most closely watched events -- not just for the numbers, but for the political message during a speech that runs for about 90 minutes.

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