News @ AsiaOne

Indian budget signals new govt's priorities

Sensex nosedives as changes and focus on infrastructure spending point to widening deficit. -ST

Tue, Jul 07, 2009
The Straits Times

By Ravi Velloor, South Asia Bureau Chief

NEW DELHI: Just two months ago, unsure if he would be returned to power, Prime Minister Manmohan Singh had quietly identified suitable government bungalows in New Delhi for his official retirement home.

Among the houses shortlisted was the one currently used by his top economic adviser, Planning Commission chairman Montek Singh Ahluwalia. Neither the Singhs nor the Ahluwalias will need to move, for the Congress-led government has been returned for another five years with a surprisingly strong mandate.

So the duo can focus instead on fixing the US$1.2 trillion (S$1.7 trillion) economy, which has suffered a slowdown lately after clocking growth of more than 9 per cent in the past two years.

 


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