India’s Narendra Modi faces tough budget challenge as economy slows
- India's economy is projected to grow between 6.3% and 6.8% in the next fiscal year, indicating sluggish conditions with growth set to sag to a four-year low this year according to a finance ministry report.
- Finance Minister Nirmala Sitharaman will present the national budget on February 1, amid weak domestic demand and rising global uncertainties affecting the economy.
- Experts expect the budget to focus on boosting consumption and manufacturing, while possibly lowering personal income tax for middle-income households to stimulate spending.
- The Indian government is likely to lower its fiscal deficit target to 4.4% of GDP for the next fiscal year, down from 4.9% for the current fiscal year, as per UBS projections.
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Total News Sources0
Leaning Left8Leaning Right6Center5Last UpdatedBias Distribution42% Left
Bias Distribution
- 42% of the sources lean Left
42% Left
L 42%
C 26%
R 32%
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