Modi is facing growing discontent over depressed farm incomes and doubts over whether his policies are creating enough jobs. "The pressure to further expand the farmer welfare programme ahead of the 2019 elections is high for PM Modi," said CLSA India. Rahul Gandhi, the leader of the main opposition Congress party, is closing in on Modi's lead, according to polls. His promise of a minimum income for the poor has increased pressure on the government to make populist announcements in its budget. "In our view, with the upcoming polls gaining precedence, fiscal consolidation is likely to take a back seat," said Nirmal Bang, a brokerage.

Source: bd News24 February 01, 2019 00:56 UTC