Cash-ban distress leaves scant room for India budget giveaways


  • World
  • Monday, 23 Jan 2017

Jan 22, 2017; La Quinta, CA, USA; Hudson Swafford tees off on the second hole during the final round of the CareerBuilder Challenge at PGA West - Stadium Course. Mandatory Credit: Joe Camporeale-USA TODAY Sports

NEW DELHI (Reuters) - Prime Minister Narendra Modi's decision late last year to scrap high-value Indian bank notes has put his finance minister in a bind ahead of the annual budget next month.

Arun Jaitley is under pressure to offer tax giveaways and step up capital and welfare spending to ease the pain from demonetisation, but the economic disruption caused by Modi's jolt has made forecasting next year's revenue outlook a stab in the dark.

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