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Indian budget a missed opportunity for difficult reforms

Finance Minister Arun Jaitley silent on jobless growth, bad loans and tax issues

| India

Contrary to widespread media speculation, the budget presented by India's suave Finance Minister Arun Jaitley on Feb. 1 was far from populist. The budget stuck, more or less, to the government's fiscal road map, and limited the fiscal deficit to a reasonably conservative 3.2% of gross domestic product. However, Jaitley missed an opportunity to pursue difficult reforms before the government gets locked into election mode in the run up to the next general election in 2019.

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