So, Modi's government in India just talked about their new budget plan. This is the first budget deal they're making since everyone voted a few months ago in June, and they're saying they're going to be pretty careful with the country's cash.
Watching the Money Closer
They've decided to shoot for a fiscal deficit (which is basically the amount of money they spend more than they make) of 4.9% for the next few years. That's a tiny bit less than what they were planning before the elections. By 2026, they want it to be even lower at 4.5%. Finance person Nirmala Sitharaman says this is to keep things under control money-wise.
Spending Big on Stuff We Need
Even though they're being stricter with the money, they're still going to spend a good chunk on fixing up the country. They're keeping the plan to throw down 11.11 trillion rupees ($133.9 billion) on big projects like roads and buildings. That's 3.4% of what the whole country makes in a year.
Making It Easier for Big Companies and New Businesses
They're also saying they're going to cut the corporate tax for companies from other countries from 40% to 35%. This is like giving them a discount to come and invest in India. Plus, they're planning to get rid of something called the angel tax for startups. This is supposed to help those little companies grow up big and strong.
Trying to Make More Jobs and Keep the Books in Order
The main idea here is that they want to keep an eye on the money, but also make sure there are more jobs for people. They're trying to find a middle ground that'll help the economy grow without going crazy with spending.
This new budget is like India's government saying, "We're going to clean up our finances and get our act together." It's a big deal for their economy, and hopefully it'll lead to some good stuff in the future.