Mr Modi's biggest challenge in his third term will be bridging the rich-poor divide.
On Tuesday, India's Prime Minister Narendra Modi's coalition government will present its first federal budget following a narrow election victory.
Wages have stagnated, household savings have dropped and well-paying jobs remain out of reach for most Indians. Sushil Pal’s family has tilled the plains of Behra Asa village for generations. It’s hard toil that hardly pays anymore, he told the BBC. Down the road from his field, an export-focused furniture workshop has seen its turnover drop by 80% in the past five years as global orders dried up following a post-Covid sales bump.
In contrast, profits reported by India’s 5,000 listed companies rose sharply by 187% between 2018 and 2023, spruced up in part because of tax cuts, according to commentator Vivek Kaul.Bridging such gaping divides between the formal and informal parts of the economy and bringing prosperity to India’s villages will be the biggest challenges for Mr Modi as he embarks on a third term in office.
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