“The budget makes the need to once again accelerate the virtuous cycle of investment and job creation. Capital investment is being increased by 33% to Rs 10 trillion for the third consecutive year.”
When he revealed the big jump, MPs from the ruling party thumped tables as the camera panned towards Modi.
The lack of enough jobs for young people in the country of 1.4 billion has been one of the biggest criticisms of the rule of Modi, who is still widely projected to win next year’s general election.
Indian stocks pared early gains, while bond yields edged higher. Benchmark indices, Nifty 50 and S&P BSE Sensex gave up gains, while benchmark 10-year yield advanced on higher capital expenditure schemes.