Arun Jaitley focuses its budget on farmers and its rural population as Prime Minister Narendra Modi looks to win over voters before national elections next year. Photo: Aniruddha Chowdhury/MintNew Delhi/Mumbai: India focused its budget on farmers and its rural population as Prime Minister Narendra Modi looks to win over voters before national elections next year. Higher spending also complicates policy for the central bank, which meets next week to review interest rates amid accelerating inflation. “So there is pressure on the government to do something, so that some of the progress is shared.”Details:Farm stocks surged. It will keep the benchmark repurchase rate at 6% on 7 February, according to most economists in a Bloomberg survey conducted before the budget announcement.

Source: Mint February 01, 2018 06:33 UTC