Reuters
Indian Prime Minister Narendra Modi [Source: Reuters]
Indian Prime Minister Narendra Modi’s first post-election budget on Tuesday will seek to lay out an economic vision that balances fiscal prudence with the expectations of disgruntled voters and the demands of his coalition partners.
Modi’s Hindu nationalist Bharatiya Janata Party (BJP) failed to secure a majority in the election last month, making it dependant on allies to form a government for the first time since he came to power more than a decade ago.
The budget is expected to cut taxes for the middle class, provide relief for distressed rural areas and heed the demands of two key coalition partners – Andhra Pradesh’s Telugu Desam Party and Bihar’s Janata Dal (United) – for billions of dollars in additional funding for their regions.
The government will also look to keep at bay a resurgent opposition which has criticised the Modi government for a lack o
Jobs, high cost of living and growing income inequality.
According to a report by World Inequality Lab, wealth concentrated in the richest 1% of India’s population is at its highest in six decades, while youth unemployment stands at over 17% according to government estimates.
