Union Budget sets up India to be the next China

The budget’s big infrastructure push, along with rising FDI inflows, is expected to fire up the economy.

Finance minister Nirmala Sitharaman, in her budget speech on Monday, proposed that the government spend Rs 5.54 lakh crore on infrastructure projects next fiscal. That's a whopping 35% jump from the previous year’s figure. This, she said, would help revive the $2.8 trillion economy and spur growth.

The plan is audacious because in the year gone by, the Indian economy contracted for the first time in four decades, thanks to the COVID-19 pandemic. The government's revenues saw a steep drop as a series of lockdowns to tackle its spread brought industry and business to a grinding halt. Further, it had …

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T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

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Mumbai

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Jayshree P. Upadhyay

Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.

jayshree@mailtmc.com