Tax & Spend
Modi Shuns Populist Budget as Focus Stays on Infrastructure
- Finance minister curbs fiscal deficit, reduces borrowing
- Last budget before polls lacks major spending, tax measures
Finance Minister Nirmala Sitharaman in New Delhi.
Photographer: Prakash Singh/BloombergThis article is for subscribers only.
Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.
India’s finance minister delivered a budget speech lacking in any major spending and tax measures to lure voters in upcoming elections, a sign that Prime Minister Narendra Modi is confident his government can return to power without resorting to populist programs.