Economics
India Set for Deficit Blowout, High Borrowing: Budget Guide
- Government faces revenue shortfall as GDP growth slows
- Finance Minister set to outline measures to spur economy
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India’s annual budget on Saturday is Prime Minister Narendra Modi’s second opportunity in seven months to refresh policy priorities to support an economy on a downward spiral.
Finance Minister Nirmala Sitharaman is set to outline fiscal steps that may include higher spending in rural areas and possible tax cuts when she delivers her second budget speech in New Delhi. The government is expected to widen its fiscal deficit target for the year through March to 3.8% of gross domestic product from a planned 3.3%.