The Projected Impact of the India Union Budget on the Economy
India’s economy is facing challenges such as high public debt, weak private investment and struggling agriculture. In 2016’s union budget, the government has made attempts to face these challenges, as it aims to reduce fiscal deficit and increase agricultural employment especially to rural areas. Finally, the relaxation of FDI restrictions will boost private investment. For businesses, the new budget will stabilize government spending and will spur economic growth in the future.