India's Prime Minister Narendra Modi attends an event organised by the Christian community to celebrate the beatification of two Indians by Pope Francis late last year, in New Delhi February 17, 2015. REUTERS/Stringer
NEW DELHI/MUMBAI (Reuters) - India's reform-minded prime minister, Narendra Modi, appears to have passed a major test with a budget that pleased economists and investors with pledges to spend more on modernising India's ageing roads and railways while keeping borrowing in check.
The budget presented by Finance Minister Arun Jaitley on Saturday loosened the reins on public spending to drive growth, but promised lower-than-expected borrowing despite raising the fiscal deficit target.
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