India’s new finance minister, Arun Jaitley, presented his maiden Budget on July 10. Much has been expected from this government, which is widely considered to be pro-industry and reform-friendly.
While the Budget had significant announcement like the raising of foreign investment caps in defense and insurance, as well as a change in income-tax norms, it also set very ambitious growth targets.
Can Jaitley achieve them even as the global economy struggles to get back on track? This is an uphill task and will require more bold and politically tough decisions.
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