While there were no “fireworks” in India’s highly-anticipated budget, investors approved of the government’s various pro-growth initiatives – which ranged from boosting infrastructure investment to lowering corporate taxes – adding fuel to the country’s stock market rally.
Finance Minister Arun Jaitley presented the budget on Saturday against the backdrop of sky-high expectations, with some describing it as the most important economic event for India’s stock market this year.
The budget’s overarching theme was ramping up growth, which Jaitley predicted would accelerate to 8-8.5 percent in the fiscal year starting in April, from 7.4 percent this year.
