NDA Under MODI Presented A SUGAR COATED Budget: Chiranjeevi Naik | News | Politics | BJP | Economy

India's annual budget announcement was a bigger deal than usual this year: As the first full budget of Prime Minister Narendra Modi's third term, it will set the tone for how the world's fifth-largest economy confronts slowing growth and sagging markets.
But the year's top economic policy event opted mainly for short-term economic relief through middle-class tax cuts, while passing up a chance to go big on reforms needed to reignite rapid growth - once the envy of the world at more than 8%. The budget also scaled back the government's emphasis on capital spending and infrastructure, another key driver for India's growth ambitions since the pandemic. Without a strategy to regain high growth rates and assure jobs for India's young population, the budget disappointed analysts and markets, alarmed in recent months by weak earnings growth and an exodus of foreign investors.
"India is aspiring for 8% growth but we don't have a path to 8% - a growth strategy is not there," said Madhavi Arora, chief economist at Emkay Global Financial Services.
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