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Falling oil prices pull Jaitley's Budget out of the fire

Fall in oil prices has given Jaitley headroom fro subsidy reforms that will reduce fiscal deficit

Reuters  |  New Delhi 

Falling oil prices have been a major windfall for India: Just weeks ago it looked like it would fail to meet fiscal deficit targets, but can now expect a budget that not only hits its targets, but also provides extra cash to support reform. The coming budget for fiscal 2015-16 (April-March), which will be unveiled on Feb. 28, is widely seen as a test of Prime Minister Narendra Modi's ability to lead economic reform. Read our full coverage on Union Budget Fortunately for Modi, the economic climate has handed him a chance to pass that test with flying colours: Budget planners ...

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First Published: Thu, February 05 2015. 08:07 IST