A head of India’s budget on February 1st, Narendra Modi asked Lakshmi, the Hindu goddess of wealth, to bless the poor and the middle class. The prime minister’s request for divine intervention mingled public spirit with political self-interest: frustration about economic growth and joblessness contributed to Mr Modi’s loss of his outright majority in elections held last year.

India's decision on Saturday to ease the tax burden for middle-class consumers may not have a large impact on growth, Moody's Ratings said in response to the budget, retaining their growth forecast for the South Asian economy at 6.

New central bank governor Sanjay Malhotra loosens monetary policy despite high inflation hitting consumer spending

The Reserve Bank of India cut its policy rate for the first time in nearly five years as economic growth slows and inflation cools.

The Reserve Bank of India seeks to boost the sluggish economy and sees inflation easing towards its 4% target.