Has “Modinomics” been given a boost by the Indian budget?
A couple of highlights from the recent Indian budget make me think the PM Narendra Modi might have found his economic mojo again.
Here’s one – 100 more airports will be developed by 2024 – that is a big number!
Pictured above – Mumbai and Delhi airports
The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman, while presenting the Union Budget 2020-21 in Parliament said that infrastructure was crucial to the theme of “Economic development” and hence the Budget is dedicated to providing “Ease of Living” to all citizens.
Here’s another – Indian Sea Ports will receive funding for technology to improve their performance and the government is considering corporatizing at least one major port and subsequently listing on the stock exchanges.
Here’s a third example – a national gas grid, expanding to 27,000 km plus states to introduce “Smart Meters” plus a corporate tax rate of 15 per cent for new domestic companies generating electricity.
Just my quick take on the budget, which seems to have found the Modi economic mojo again.