India Juggles Growth, Budget Deficit as Global Risks Mount

India’s finance minister unveiled a relatively cautious budget on Sunday, focusing on economic stability in the face of rising global risks.

Finance Minister Nirmala Sitharaman boosted spending on manufacturing and infrastructure projects while keeping the government’s fiscal deficit and debt under control. There were no big-bang announcements to spur the economy this time around, unlike in previous years when she cut taxes and eased restrictions for foreign investors.