Indian Prime Minister Narendra Modi’s government presented an annual budget to Parliament on Saturday that focused on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and manufacturing.

The Indian government's decision 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 federal budget.

(Reuters) -India plans to cut personal income tax rates to boost middle-class spending power and seeks to increase private investment to strengthen growth, the 2025-26 budget showed on Saturday. The world's fifth-largest economy is expected to post its slowest growth in four years next year amid frail urban demand and weak private investment,