India Budget 2019 brings some gain, some pain for foreign investors has been saved
India Budget 2019 brings some gain, some pain for foreign investors
The Indian Finance Minister presented her maiden budget for the current financial year 2019-20 earlier this year. Following the overwhelming victory of the central government in the elections, there was widespread expectations that the government would announce bold reforms and could take radical measures to accelerate the country’s economic growth.
In an earlier statement, the Prime Minister of India laid down an objective of scaling the size of Indian economy to US$5 trillion by 2024-25 and achieving this objective will require India to sustain real GDP growth of 8 percent per year from 2019-20 onwards.
In the fiscal year 2018-19, India’s growth rate moderated to 6.8 percent from 7.2 percent. Nonetheless, India continues to be the fastest growing major economy in the world. The country has maintained its macroeconomic stability by containing inflation within 4 percent and bymaintaining a manageable current account deficit to GDP ratio.
Performance magazine issue 30, September 2019
Performance is a triannual digest, dedicated to investment management professionals, which brings you the latest articles, news and market developments from Deloitte’s professionals and clients.