Budget for growth, continuity, and steadiness

Three key elements emerge from the Budget presented by Finance Minister Nirmala Sitharaman which are crucial indications for India's economic trajectory in the coming years.

- CLAUDE SMADJA

The first one is that Prime Minister Modi and his cabinet have fully heard and understood the message from the outcome of the last elections, i.e. the frustration from segments of the population that the country GDP growth in the last few years, as commendable as it has been, has to some extent, left them on the sidelines. Hence, a number of measures have been proposed reflecting more attention to those at the bottom of the pyramid such as additional resources allocated to rural development, to improving the condition of women, and to create more employment opportunities for the unemployed people.

The schemes to incentivize job creation, five million new job opportunities for adults and three million for young people, along with additional effort on education, skilling and employability should, if well implemented, kill two birds with one stone. It should help address the plight of the country's unemployed and contribute to expanding the manufacturing base of the country, in line with the "Make in India" priority policies of the government.