With less than 10 days to go before its presentation in Parliament, Finance Minister Arun Jaitley and his team are busy putting together what's expected to be a landmark Budget. Prime Minister Narendra Modi and key officials in his office are also as closely engaged in the exercise.
Indian prime ministers generally set a broad direction for the Budget, leaving finance ministers to work out the details. Modi has shown through his tenure and even before that that he isn't such a leader, being as focused on the nitty gritty as he is on the big picture. During his three terms as chief minister of Gujarat, he was as closely involved in policy-making. One bureaucrat recalled how the PM sat through a three-hour presentation, reflecting his keen interest in policy making.
Additionally, the world's attention is focused on India, which has not only taken on the mantle of fastest growing major economy but is also seen as the sole bright spot amid worldwide gloom and uncertainty, according to the latest OECD report that was published on Thursday.
