Modi Pledges $24 Billion for Jobs, Financial Aid for Allies
- Government to curb fiscal deficit to 4.9% of GDP this year
- Capital gains tax hiked in bid to curb speculative market boom
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Prime Minister Narendra Modi pledged 2 trillion rupees ($23.9 billion) to boost jobs and improve education in India, increased spending to his new allies, while also targeting a smaller fiscal deficit for this year.
The government will focus on employment, skilling, small businesses and the middle class in the fiscal year through March 2025, Finance Minister Nirmala Sitharaman said in her budget speech Tuesday. She announced a number of employment-linked incentives for businesses to help spur jobs.