India’s new government unveils first budget

India’s new government unveils first budget

Indian Prime Minister Narendra Modi’s government today unveiled its debut budget and promised greater opportunity for foreign investors. The Finance Ministry says it has inherited low growth and high inflation but believes it has a strategy to turn things around. The key aims are lower public debt, more privatisation and greater foreign investment. The market in Bombay was disappointed however, believing that there should have been more sweeping reform. Read the full story.