ISAS Insights

As days pass, India’s Finance Minister Arun Jaitley is seen to be increasingly defensive about the Narendra Modi Government’s first Budget. Commentators have spoken about continuity of the previous U nited Progressive Alliance (UPA) Government’s thinking, lack of big -bang reforms agenda, a plethora of schemes that do not appear to be fully funded, and the lack of a clear articulation of vision. Corporate leaders complain that the spectre of retrospective taxation has not been lifted. There is no clear focus for manufacturing or for tackling inflation, t wo of the more important worries of the Indian economy