Just before national elections, the Indian government recently released an interim budget that included both anticipated policies and surprises targeted at investors and rural voters. India hopes to raise its sovereign credit rating through this consolidation, more capital spending, and welfare programs. For the next fiscal year, the government of Prime Minister Narendra Modi (BJP) plans to target a lower fiscal deficit than what the market had anticipated—5.1 percent. Capital expenditure on infrastructure projects is expected to rise, though at a slower rate than in previous years. Budget cuts were implemented, mainly in the areas of food subsidies and fertilizer bills, which may have been influenced by worldwide patterns. Especially, the budget gives special attention to the rural economy, keeping in account problems such as low consumption and providing support for programs like affordable housing and fisheries.
All things considered, the budget conveys the government's optimism about its chances of reelection, and some analysts even suggest that it is part of the ruling party's plan to win another term in office.
2 comments:
India's BJP government has had numerous allegations of trying to buy votes for the upcoming elections, it would not be surprising if the budget was just sugarcoated in order to secure the elections. The govt is also known for their Hindu extremism and hit man squads all over the world trying to destroy the minorities of India and promoting their extremist campaign.
I am curious if like Miran said this campaign is simply targeted to get voters for the upcoming election. I know similar things happen in the US every election season so it is certainly possible this is just aimed at getting voters without having any real effects.
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