Business Standard

Interim Budget 2019: Before polls, govt wants expansionary economic policy

Weak consumer spending and the fragile farm sector have already been a drag on economic growth

Reuters  |  New Delhi 

Prime Minister Narendra Modi's ruling party is in favour of an expansionary economic policy and does not consider the government's plan to keep the fiscal deficit to 3.3 per cent of GDP as "sacrosanct", a party spokesman told Reuters. Ahead of a general election that must be held by May and after a string of losses in recent state polls, the government run by the Bharatiya Janata Party (BJP) has announced several stimulus measures for the countryside where millions of farmers are grappling with low crop prices. Other fiscal moves have been aimed at helping small ...

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First Published: Wed, January 16 2019. 12:43 IST