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India unveils fire-fighting budget to placate voters, sustain growth

Finance minister sticks to his fiscal deficit target of 3.5% of gross domestic product for the 2016/17 fiscal year

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Mr Jaitley's budget gets a cautious thumbs up from financial investors with the rupee, bonds and stocks buoyant. Ratings agencies also gave their cautious backing to a spending package that produced no nasty surprises on the borrowing side.

New Delhi

INDIA unveiled a fire-fighting budget on Monday that seeks to win back support among rural voters for Prime Minister Narendra Modi's government and sustain growth against a grim global backdrop - all without borrowing more.

Finance Minister Arun Jaitley's third budget

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