Stepping Back
The Budget seeks to open fresh funding avenues for investing in infrastructure as the government's appetite for spending has waned
While the first stint of the Modi government between 2014 and 2019 was a period of relentless public spending on infrastructure, Union Budget 2019, which heralded the beginning of its second stint, is a marked departure from the past with firm focus on finding more avenues to get funds for infrastructure projects. There is no surprise here. Less than expected GST receipts, higher expenditure on social sector schemes and less benign crude oil prices have restricted the government's ability to spend more.
In its
