India’s budget is a closely-watched TV event, with pre- and post-game analyses on every TV news channel. Even by those standards, Saturday’s budget generated more interest than in previous years, in part because of soaring expectations on the new government.
Jaitley signaled in his speech that “incremental change” was not enough, as he announced a raft of measures to boost infrastructure and growth.
Ahead of Saturday’s budget, India released its annual economic survey on Friday. The data produced by the government showed that India is projected to grow as fast as 8.5% in 2016, making it the fastest growing large economy in the world. The data was calculated according to a new methodology.