Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.

Perhaps half-way through India's demographic transition, what is the outlook for the future?

The prospects for strong, sustained economic reforms do not appear to be promising in India.

The challenge ahead for central and state governments remains enormous.

'On the tax front, most of the Budget proposals are sensible'.

Shankar Acharya gives ten predictions on key politico-economic developments in the world and ten for India.

It was the first reasonably free and fair national election held there since 1990, when Aung San Suu Kyi's fledgling National League for Democracy won a landslide victory.

Stability in currency markets was only restored from September.

Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.

There are conflicting signs on India's investment cycle.

The Modi government's array of economic policy has been impressive.

The estimates of national income and growth do not pass the 'smell test'.

This Budget plans for an increase to 10.3% of GDP from 9.9%.

FM should avoid proposals such as to tax financial transactions and fringe benefits

Because of India's weak fiscal position, the plethora of debt-burdened infrastructure companies and the poor asset quality of public sector banks, economic growth in 2015-16 may be limited to about six per cent, say Shankar Acharya.

The success of the government will depend substantially on the quality of its team of key ministers, officials and advisors

The prime minister's August 15 address was undoubtedly inspirational and outlined important economic and social objectives, such as making India a global hub for manufacturing, ensuring bank accounts for all poor families, major thrusts in sanitation and cleanliness, and a radical restructuring of the Planning Commission.

Indonesia, Turkey and Afghanistan also see important polls in the seven short weeks between end-March and mid-May, says Shankar Acharya