On the heels of the Bharatiya Janata Party (BJP)’s recent electoral victory, the Asia Society and KPMG will be hosting the 11th edition of the annual Indian Union Budget event to discuss what the election means for India’s 2019-20 Union Budget and Indian finance more generally.
Against a backdrop of a global slowdown in growth and escalating trade tensions, India’s favorable demographics, encouraging macroeconomics, pro-growth government initiatives, evolving monetary policy, and its transformational growth story is being closely watched by overseas investors. Once the eleventh largest economy in the world, India is now the fastest growing major economy in the world and the sixth largest economy. Positioned to be a $5 trillion economy over the next five years, with ambitions to be a $10 trillion economy over the next thirteen years, India is a hotspot in Asia and hoping to leverage its growth to attract more investment. Beyond these growth targets and ahead of the election, the government’s 2019-20 interim budget introduced new schemes to provide farmer support, a nascent social security system, and substantive tax rebates, all while attempting to remain within the government’s fiscal consolidation targets and facing record high unemployment. Analysts will be following these schemes and the broader changes in the Indian economy with increasing interest over the coming years.
Did the interim budget help the BJP win the election? What expectations does the private investment community have for the government’s spending and revenue generation? What effect will this budget have on the economy and the future of monetary and fiscal policies? Join us for a panel discussion where experts will answer these and many other questions about the Indian economy and project future business prospects for 2019.