India's Budget To Set Context For Vigorous Foreign Policy

BANGALORE: More than just a list of taxes and spending, the first budget of Prime Minister Narendra Modi's government is expected to unveil policies that will signal how the new Indian government wants to shape the economy in the years to come and engage with the world.

The fiscal budget, to be presented by Finance Minister Arun Jaitley in Parliament Thursday, is part of the government's action strategy to build a stronger economy and a safe and secure India. The prime minister believes that India is destined to be a global power, but he also understands that the goal will never be met unless India gets its economic act together. The finance minister has said India's policies with regard to the rest of the world will be influenced by economic realities and national priorities. The budget will set the context for foreign policy and the role of diplomacy for the advancement of core economic and strategic interests.

The 2014-15 budget is likely to support a sustainable, affordable and accountable programme to reduce poverty, promote prosperity and enhance stability in the region, pronouncements from the government and sources have indicated. Both the prime minister and finance minister have said the government will invest in the drivers of economic growth, including infrastructure, trade and education to create jobs and opportunities that would lift people out of poverty.