Mon, 17 Feb 2014 12:27:12 GMT
India budget deficit to decrease with military spending rising
The government of India presented a 2014-2015 fiscal year budget, with the deficit is planning to reach the lowest value in seven years. As expected, military spending will increase, while taxes on mobile phones, television sets and cars are planned to decline. Therefore, the deficit will drop to 4.1% of GDP, down from 4.6% this year. Meanwhile, Indian general election