Modi allocates $23.9b for job creation, education boost

India’s Prime Minister Narendra Modi has allocated two trillion rupees ($23.9 billion) to boost job creation and education in India, focusing on small businesses and the middle class in the fiscal year through March 2025.

Meanwhile, Finance Minister Nirmala Sitharaman announced various incentives to encourage employment in her budget speech on Tuesday.

The Indian government aims to reduce the fiscal deficit to 4.9 per cent of GDP this year, emphasising the importance of fiscal discipline for economic stability and credit ratings.

The new budget reflects the priorities of the new coalition government led by Modi, addressing concerns about joblessness and living costs while balancing the demands of coalition partners.

Attribution: Reuters