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Growth package

Spending hike is best part of low-key India Budget

Andy Mukherjee 

Andy Mukherjee The new Indian government's maiden Budget fell short of the hype. But Narendra Modi's administration earmarked substantial sums for new infrastructure, which should revitalise growth. The July 10 Budget was the most important financial test for Modi since his Bharatiya Janata Party won power with a sweeping mandate in May. Yet it lacked the far-reaching reforms many economists and investors wanted. Finance Minister Arun Jaitley gave no hard deadline for introducing a federal sales tax - a long-delayed reform which would stimulate growth and allow manufacturers to sell more ...

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First Published: Thu, July 10 2014. 22:21 IST