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Significance It is only an interim budget because a general election is set to take place soon, most likely in April-May. The budget surprised many observers because of its lack of pre-election populist measures, but that simply reflects how confident the Modi government already is about its chances of securing another term. Impacts The BJP-led National Democratic Alliance will likely win another large parliamentary majority at the elections. The poll campaign will likely feature heavy use of Hindu nationalist rhetoric by Modi’s party, raising social tensions in some communities. The government’s emphasis on fiscal consolidation will be welcomed by international financial institutions.
A Tue, study studied this question.
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