 "PM Narendra Modi, along with Parliamentary Affairs Minister Ananth Kumar, Ministers of State Jitendra Singh and Arjun Ram Meghwal, addresses the media on the first day of the budget session of Parliament, in New Delhi")
India’s Narendra Modi delivered an election year Union Budget focused on tamping down rural discontent ahead of crucial elections, spending that could prompt the central bank to raise interest rates in the coming months.
With less than a week to go before the Reserve Bank of India meets to decide on policy, Finance Minister Arun Jaitley unveiled a budget that opens the taps for impoverished farmers, guaranteeing higher minimum crop prices and more spending on infrastructure projects in India’s vast rural hinterland.
That may prompt some of the six-member monetary policy committee to turn more hawkish. A Bloomberg
