NEW DELHI, Feb 1(Reuters) – India’s finance minister on Wednesday introduced the federal government’s final full finances in parliament earlier than a normal election due subsequent yr that Prime Minister Narendra Modi is extensively projected to win.
“Regardless of the large slowdown globally attributable to COVID-19 and the struggle, the Indian economic system is heading in the right direction,” mentioned Nirmala Sitharaman, who’s expected to decrease the federal government’s fiscal deficit whereas saying spending and different measures to maintain India as one of many fastest-growing main economies on the earth.
Since taking workplace in 2014, Modi has ramped up capital spending together with on roads and vitality, whereas wooing buyers by means of decrease tax charges and labour reforms, and providing subsidies to poor households to clinch their political assist.
Reporting by Shubham Batra, Nikunj Ohri, Shivangi Acharya, Sarita Singh, Nigam Prusty, Manoj Kumar and Indian bureaux; Writing by Manoj Kumar and Krishna N. Das; Modifying by Kim Coghill
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