Modi Budget prioritizes jobless voters who spurned him at polls
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In an 83-minute speech before India’s parliament on Tuesday, Finance Minister Nirmala Sitharaman said the government would deploy 2 trillion rupees ($23.9 billion) to create new jobs and boost skills for its vast young population — top issues of concern for voters in India’s recent elections, and one the government had largely brushed aside for years.
Modi’s government is also lining up financial support for two regional parties that have emerged as key allies of his governing coalition. The spending plan is his government’s first since voters denied his Bharatiya Janata Party a majority in parliament for the first time in 10 years — and ahead of key regional elections later this year.
Despite economic growth of more than 8% that makes it the fastest-growing major economy, India continues to suffer from deep economic woes like persistent unemployment, widening inequality and elevated inflation. Joblessness, particularly among India’s huge and growing pool of young people, has emerged as a top challenge. The Centre for Monitoring Indian Economy, a private research company, estimates a jobless rate of more than 40% for people between the ages of 20-24.
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