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India business leaders push for investment incentives

Modi government aims to boost recovery with Feb. 1 budget

Prime Minister Narendra Modi's government will present its budget just days ahead of key elections in five states. (Source photos by Reuters) 

MUMBAI/NEW DELHI -- India's corporate leaders are banking on next week's annual budget to help accelerate the recovery of Asia's third largest economy, with incentives aimed at boosting private sector investment set to be among a raft of new government measures.

The Feb. 1 budget will be presented just days before crucial elections in five states, raising expectations of a giveaway to woo voters that could include higher welfare spending and tax incentives for investments in renewable energy, electric vehicles and infrastructure projects.

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