India’s first budget under Narendra Modi’s new government met mixed reactions from the country’s business community, as it displayed a “prudent” approach but failed to deliver on hard-hitting major announcements. Expectations for the budget were extremely high, with demands on the government to tackle inflation, boost economic growth and create more jobs. Some of the highlights of the budget, delivered by finance minister Arun Jaitley yesterday, included raising the limits for the defense and insurance sectors to 49 per cent from 26 per cent and a plan to approve a long-awaited goods and service tax by the end of this year.
Posted on: Tue, 15 Jul 2014 09:40:00 +0000