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Thursday, 10 July 2014 - 13:15
India budget to spell out Modi's economic vision
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India's new right-wing government today unveils its maiden budget that investors hope will spell out Prime Minister Narendra Modi's strategy for restoring the country's economic and fiscal health..

Shares have rocketed on expectations the Bharatiya Janata Party, which took office in May, will use the budget to flesh out campaign promises to lift Asia's number-three economy from its longest stretch of sub-five per cent growth in a quarter-century.

Analysts say Finance Minister Arun Jaitley may slightly reduce a yawning fiscal deficit -- the gap between revenue and spending -- which stood at 4.5 per cent of gross domestic product last year.

 
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