Economics
Modi’s Post-Election Budget Is a Key Chance to Spur a Waning Economy
- New finance minister must address multiple economic challenges
- Fiscal deficit target seen higher at 3.5% in Bloomberg survey
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Indian Prime Minister Narendra Modi has his first chance since a decisive election win to spur an economy that’s quickly lost its status as the world’s fastest-growing major one.
Newly appointed Finance Minister Nirmala Sitharaman is expected to boost spending and provide tax relief to consumers in her maiden budget on Friday. That will probably widen the budget gap to 3.5% of gross domestic product in the year started April 1 from 3.4% targeted in February’s interim spending plan, according to a Bloomberg News survey.