World Economy

Modi Budget to Attract Investment

Modi Budget to Attract InvestmentModi Budget to Attract Investment

Indian PM Narendra Modi’s government has unveiled a business-friendly budget aimed at attracting greater investment for the economy, BBC said.  Finance Minister Arun Jaitley announced an unprecedented in corporate tax cut, in the government’s first full budget. But he also proposed major benefits for the poor, introducing a universal social security scheme. India will grow at a rate of more than 8% during 2015-16, a key economic report said ahead of the budget. The growth forecast follows the country’s new way of calculating GDP which has caused some confusion.