Modi Favors Middle Class Over Jobless as India’s Growth Stumbles

Prime Minister Narendra Modi gave India’s middle classes significant tax relief in his budget to cushion the economy against global headwinds, but provided little direct support to the millions of unemployed who voted against him last year.

India’s finance minister on Saturday unveiled $11.5 billion in tax cuts that will spare 10 million more Indians from income tax. Other measures included new subsidies for farmers and tariff reductions.