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India’s once-in-a-century budget runs into trouble as COVID-19 strikes back

India’s once-in-a-century budget runs into trouble as COVID-19 strikes back
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India’s annual budget in February was lauded by many and raised hopes it would drive a sharp economic revival, but there are now fears that its promise may fall flat as it did not account for a crippling second wave of COVID-19 infections.

The budget aimed to revive Asia’s third-largest economy via investing in infrastructure and health care, while relying on an aggressive privatisation strategy and robust tax collections – on the back of projected growth of 10.5 per cent – to fund its spending in the fiscal year…

To read more: https://www.channelnewsasia.com/news/asia/india-s-once-in-a-century-budget-runs-into-trouble-as-covid-19-14820898

SOURCE: CNA

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