BENGALURU: The Modi government is all set to introduce new reforms in its coming budget, including steps to boost the economic condition of the nation. It is expected that the forthcoming budget will woo foreign investments and even more steps to curb inflation and enhance the financial status all over India.

The government has taken initiatives for ‘Make In India’ campaign to make India an investment and manufacturing destination. This effort is going to be most powerful tool to uplift Indian economy as it will create both employment and growth opportunities.

With this positive idea to move towards development in infrastructure field, the government is ready to start the foundation in the financial year 2015-16. Here are some expectations from the Budget as revealed by Business Insider:

1. Check on Gold Imports: After the government’s decision to pare gold imports in the last two year’s budget plan, gold became the most smuggled item in India. People consider it auspicious and a store of value, and rely entirely on foreign supply.

In the fiscal year 2015-16, the government is planning to cut import duty to 2 to 4 percent on gold in order to curb smuggling. People might expect Modi government’s First Real Budget 2015-16 to deliver new schemes providing substitutes apart from gold to dodge against inflation.

This will also help to boost exports and manufacturing of gems and jewelry as this sector contributes significantly in the country’s total exports.

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