India’s Finance Minister Nirmala Sitharaman’s interim budget last week marked nearly 10 years of Prime Minister Narendra Modi’s government. Sitharaman showcased the government’s achievements over the past decade, rather than shower freebies, ahead of national polls due in a couple of months. A careful analysis shows the changing patterns in the Indian economy.
Sitharaman reduced the food subsidy by 3.3 percent to 2.12 trillion rupees ($25.5bn) in 2025 from 2.05 trillion rupees ($24.6bn) in the current fiscal year. The fertiliser subsidy was also reduced while keeping up capital expenditure at 1.3 trillion rupees ($15.6bn).
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