Mixed reaction to India budget

There's been a mixed reaction in India to the budget which was presented to parliament on Wednesday by the finance minister, Yashwant Sinha.

Industry and business leaders said the budget was good for economic growth and Indian financial markets have reacted favourably, with both share prices and the rupee closing higher on the day.

However opposition parties have condemned the budget for failing to provide a credible strategy to revive the Indian economy.

In his budget statement Mr Sinha announced measures to reform labour laws, cuts in government expenditure and said he would press on with privatising state monoplies.

He also announced an increase in India's defence spending and promised more money for roads.

From the newsroom of the BBC World Service