India's interim budget signals Modi confidence ahead of elections

Infrastructure gets another boost but government avoids 'spectacular' outlays

20240201 india budget

India's Finance Minister Nirmala Sitharaman, center, holds up the budget folder in New Delhi on Feb. 1. © Reuters

KIRAN SHARMA, Nikkei staff writer

NEW DELHI -- With general elections around the corner and Indian Prime Minister Narendra Modi's ruling party in pole position, the government on Thursday unveiled an interim budget focused on shoring up infrastructure while continuing with fiscal consolidation.

As many analysts expected, the package was short on big-ticket populist outlays -- suggesting Modi and his Bharatiya Janata Party (BJP) are confident of winning a third straight term when the nation of 1.4 billion goes to the polls in April and May.

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