India | FY17 Budget – A tight balancing act

India’s FY17 (year ending March 2017) Union Budget reiterated its commitment towards quality fiscal consolidation by aiming to reduce its fiscal deficit to 3.5% from 3.9% of GDP in FY16. The budget rightly focuses on measures to boost a weak rural economy and a step up in productive public spending but is less forthcoming on implementation of crucial structural reforms.

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