Narendra Modi has said he intends to build India into a $5 trillion economy by 2024. His finance minister, Nirmala Sitharaman, has delivered a Budget speech that picked up on that ambition and mapped out what she described as a “five-year target” and a “10-year vision” for a “new India.” Neither Sitharaman nor Modi has however explained how the necessary economic growth would be achieved or financed.

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