Economic Affairs

Hits and misses in India's budget for 'next 25 years'

It is bold and futuristic, but glaring gaps remain

Some big changes will have long-term payoffs, including massive increases in spending on infrastructure, digitalisation and green energy. PHOTO: AFP
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In Vedic astrology, the term "Amrit Kaal" (literally "Elixir Age") refers to an auspicious era when the gates of heaven open for one and all. India's Finance Minister Nirmala Sitharaman described her fourth budget, which she presented last week, as a blueprint for India's Amrit Kaal, which she claimed will stretch at least until the country's 100th anniversary of independence in 2047.

In other words, this would be a transformational budget that would lay the groundwork for the Indian economy over the next 25 years.

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