Modi Faces Early Test in Third Term with Upcoming Budget

Narendra Modi's BJP, re-elected for a historic third term, lost its parliamentary majority and now relies on coalition partners.
Coalition partners TDP and JDU demand significant funding for state projects ahead of the budget, potentially costing 0.2% of India's GDP.
Investors are keen to see if Modi can adapt to coalition politics while maintaining fiscal discipline and business-friendly reforms.
Modi faces challenges like rural hardship and joblessness, which analysts say contributed to BJP's election setbacks.
The new budget, supported by a record transfer from the Reserve Bank of India, aims to balance coalition demands and economic goals.

Source: Financial Times; Image Credits: India Today

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