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Modi expected to cut taxes in Feb 1 budget

Move aims to boost consumption but risks loss of short-term revenue spurt

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Published Mon, Jan 23, 2017 · 09:50 PM

    New Delhi

    TAXES are anything but certain for Indian Prime Minister Narendra Modi.

    Faced with a slump in demand after his shock clampdown on cash, he's expected to lower taxes in the Feb 1 budget to spur consumption. The risk is that a cut will rob Mr Modi of a short-term revenue spurt, which his administration had been touting as proof of success of the currency policy change.

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