India’s authorities introduced an enormous infrastructure programme, elevated welfare spending and tax cuts Wednesday as Prime Minister Narendra Modi seeks to spice up the financial system and voters’ incomes forward of elections subsequent 12 months.

It will spend round $122 billion within the subsequent monetary 12 months — an unprecedented 33 p.c enhance — on formidable street, port and railway tasks, finance minister Nirmala Sitharaman mentioned in her finances announcement.