A $1.4 Trillion India Spending Push Tops Modi 2.0 Agenda

The Bharatiya Janata Party pledged cash handouts to farmers, $1.44 trillion to build roads, railways and other infrastructure, a boost to manufacturing, and a doubling in exports. Consumer spending has taken a knock as a crisis among shadow banks curbed lending. The government has already widened its budget deficit target for the year through March 2020 to 3.4% of gross domestic product.

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