Arun Jaitley unveils reform plans


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India's new government is lifting some caps on foreign investment, tightening borrowing limits and plans to introduce a goods and services tax as part of what it calls a "budget for growth".

Finance Minister Arun Jaitley said India's people were "exasperated" after two years of economic slowdown.

India's economy has slowed markedly in recent years, growing by 4.7% in 2013-14. In 2010-11, growth was 8.4%.

Mr Modi's government has promised reforms aimed at creating jobs.

The budget is also expected to contain measures designed to slow inflation.

"We shall leave no stone unturned in creating a vibrant and strong India," Mr Jaitley told reporters ahead of presenting the budget.

Courtesy:BBC

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