Nirmala Sitharaman’s maiden budget today

Nirmala Sitharaman’s maiden budget today

Nirmala Sitharaman’s maiden budget today

Finance Minister Nirmala Sitharaman will shortly announce her first budget, in which she is expected to raise spending and cut taxes on business to shore up the economy after a five-year low. Nirmala Sitharaman, India’s first full-time woman finance minister, is expected to detail the priorities of Prime Minister Narendra Modi in his second term after a massive election victory. Analysts believe PM Modi hopes to use the budget to restart reforms and tackle a number of challenges for his re-elected government, ranging from a slowdown in the economy to weak consumption and shrinking tax collections. The Finance Minister, say economists, needs to announce measures that spur growth without straining expenditure. In its economic survey yesterday, the government predicted that the economy will rebound and grow at 7 per cent this year, while outlining plans on how to double its economy by 2025 to $5 trillion.

Ranjini Trinitymirror

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