India’s 2020 budget seeks to revive slowing economy – The National

India’s 2020 budget seeks to revive slowing economy – The National

India on Saturday unveiled an annual budget that pledged to boost people's incomes as Prime Minister Narendra's Modi government aimed to revive the country's slowing economy, with the pace of growth slumping to its lowest level in more than a decade.. India's finance minister Nirmala Sitharaman was under huge pressure to meet sky-high expectations to formulate a budget that would foster growth in the next financial year - which starts at the beginning of the April - while trying to keep the country's fiscal deficit in check as a far as possible.. Highlights of the budget aimed at addressing the economic challenges included a widely-anticipated cut in personal income tax, a big push on investment in infrastructure, and an injection of close to $40 billion (Dh146 billion) into the country's farming sector.. India's economy was the world's fastest growing in 2018.. Weak private investment and consumer demand, exacerbated by a credit crisis in the country's non-banking financial sector, have pressured the economy in the last year.. Stock markets in India opened on Saturday to allow investors to trade as the country's budget was unveiled.. It needs to be looked into whether the new regime will be enough [to revive] the