The interim budget will be replaced by a new one after the government is formed after elections due in April-May.
EYE ON DEBT LEVEL
* The budget is expected to buck a trend of spending big on new vote garnering measures and focus on infrastructure.
* The Asian nation is expected to lower its budget deficit by at least 50 basis points in 2024/25 but could be raising capital spending by as much as 20%.
* The fertiliser and food subsidies for the fiscal year 2024/25 beginning on April 1 are expected to remain at the current year's level.
* India may keep 2024/25 gross borrowings close to current year's level, which will be positive for the local bond markets.
* The country plans to halve the amount of equity investment budgeted to help fund three state oil refiners' green energy projects to $1.8 billion for 2023/24.
WELFARE MEASURES
* India expects to grow at around 7% in the next fiscal year despite geopolitical risks from the Red Sea crisis but growth has been uneven.
* The annual payout to landowning female farmers is expected to be doubled.
* Farmers, women and poor are a major voting bloc in India. The Modi administration has already extended its free food grains program for the next five years.
* Extension to flagship federal housing scheme for low-cost loans.
ATTRACTING INVESTMENTS
* Lower tax on hybrid cars, backed by India's trade department, is expected.
* India could refrain from large scale privatisation of state-owned firms, setting low targets for divestment proceeds.
* India is likely to reduce import tariffs on gold bars, backed by India's trade ministry.
IN-DEPTH STORIES
* Insight: World-beating growth? Not for India's rural majority
* India's Modi leads consecration of Ram temple in Ayodhya
* India's Modi seen unstoppable after surprise state polls sweep
(Compiled by Sarita Chaganti Singh; Editing by Christian Schmollinger)
