On July 10, the Narendra Modi government will present its maiden Union Budget. Expectations are high from a team that is considered industry-friendly and pro-reform.
However, the circumstances are far from comfortable.
Adding to the slowing growth and a burgeoning fiscal deficit in India are skyrocketing prices of essentials and the prospect of a weak monsoon. Several sectors of the economy – such as manufacturing – require special attention, while critical decisions such as foreign investment in defense and tax rationalisation are pending. Can Finance Minister Arun Jaitley deliver?
MSLGROUP has put together an analysis of what to expect in the Budget and the challenges before Modi and Jaitley. It spans the gamut from fiscal prudence to disinvestment and tax reforms to subsidies.