India unveils annual budget aimed at reversing weakening economic growth and investment
India's Finance Minister Nirmala Sitharaman arrives to present the 2019 budget in Parliament in New Delhi, India on July 5, 2019.
Finance Minister Nirmala Sitharaman, presenting the annual budget statement to parliament, said the government planned structural reforms to kickstart foreign and domestic investment. Modi has set a target of growing India into a $5 trillion economy by 2024/2025 from $2.7 tr illion that a government report on Thursday said will be done on the back of higher investment, savings and exports in the way China's growth was propelled.
Capital Economics said in a note on Friday that reaching that target "is dependent in large part on achieving real GDP growth of 8 percent a year, which we think is unlikely."Land and labour reforms are difficult in a democracy like India and it seems unlikely Modi will risk drawing the ire of his Bharatiya Janata Party voters that re-elected him with a huge mandate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
https://people.com/Get the latest news about celebrities, royals, music, TV, and real people. Find exclusive content, including photos and videos, on PEOPLE.com.
Read more »
Indian Opposition Leader Rahul Gandhi Steps Down After Election RoutIndian opposition leader Rahul Gandhi resigned as the head of the Congress Party, taking responsibility for its embarrassing loss to Prime Minister Narendra Modi’s nationalist party.
Read more »
Indian firms supplying U.S. tech to Huawei may face U.S. sanctions - ETIndian companies supplying U.S.-made technology components to Chinese telecom fi...
Read more »
Modi's main political rival formally quit. The move was 'inevitable'Rahul Gandhi, president of the Indian National Congress, formally stepped down just months after a resounding defeat in the 2019 parliamentary elections that saw Prime Minister Modi return to power.
Read more »
This Indian Chickpea Stew Is My Desert-Island Dish'If you must know my last meal on earth, the desert-island dish of choice that would take me instantly to my happy place, it would be pithla.'
Read more »
India projects 2019/20 GDP growth to rise to 7%India predicted on Thursday that economic growth in the current fiscal year coul...
Read more »