Electorate not forgotten in India's pro-business budget

THE Indian budget presented in parliament on Feb 28 by Finance Minister Arun Jaitley gives substance to Prime Minister Narendra Modi's view of where he wants the country to go and yet has to tread carefully between difficult choices. It caters to the wishes of big industry, its major supporters, but is aware of the power of the larger electorate in shaping political destinies.

The important concessions to industry are a future reduction in corporate tax from 30 per cent to 25…