India Ramps Up Stimulus to Spur Faltering Economy

Prime Minister Narendra Modi is counting on a two-pronged stimulus of tax and interest rate cuts to turn around India’s slowing economy, but investors may need more convincing that the measures will be enough. The decision by India’s central bank on Friday to reduce its key rate for the first time in five years comes less than a week after Modi’s government unveiled historic tax cuts in its federal budget. Taken together, the measures underscore the urgency with which Modi’s government is moving to address the growth slowdown gripping the...