New India Budget Short On Bold Reforms But Heading In Right Direction

Our India expert delves into the first budget from India's BJP government; a link to our whitepaper with more detail is available at the bottom of the page.

The new government's first Union Budget for 2014-15 was presented to the parliament by Mr. Arun Jaitley, the Finance Minister, on 10 July 2014 within 45 days of a superlative win by the Bhartiya Janta Party (BJP) led by now-Prime Minister Mr. Narendra Modi.

The Indian economy over the past few years has gone through one of its worst periods in history. Growth plummeted from a 9% to 5%. Sticky inflation, populist subsidy measures, oil price shocks and a devaluing currency have left the economy in need of a much-needed boost.