Budget 2018: India went from fragile five economies to fastest-growing five, says Jaitley

Union Finance Minister Arun Jaitleysaid Thursday while presenting the annual Budget that India had gone from being among the world's fragile five economies to the fastest growing five since the National Democratic Alliance (NDA) government took over in 2014.

"When we took over, India was considered one of the fragile five. We have successfully reversed this, India is now among the fastest growing economies in the world," Jaitley said.

This will be the last full year Budget of the Narendra Modi government before elections in 2019 and agriculture is expected to be a major focus area.

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Jaitley is expected to give impetus in the Budget to the farm sector by providing bigger allocations for food subsidies to widen MSP-based intervention.

Schemes to pay the difference between MSP and market price to farmers, nationwide loan waiver for farmers and bigger allocations for the farm sector to improve infrastructure are other decisions expected in the Budget.