India has learnt that growth in GDP does not automatically translate into growth in jobs and that GDP growth does not necessarily mean well-being of a vast majority of population. It needs to put these experiences into work and frame appropriate policy responses to the job crisis

BT's panel of experts on how to fire up the four engines of the economy - and where to find the money

Equalisation Levy, popularly known as the 'Google Tax' or 'Digital Tax', was the first step by the government to tax India revenue of foreign firms with no permanent establishments in India

India has 0.5 beds per 1,000 people, according to the latest data from the Organisation for Economic Co-operation and Development (OECD), up from 0.4 beds in 2009, but among lowest of countries surveyed by the OECD

Even if we add the tax revenues of central and state governments, India has one of the lowest tax-to-GDP ratios in the world.

The privatisation target could reach Rs 700 billion, almost equal to all proceeds over the last four years, in a budget Prime Minister Narendra Modi hopes will launch the growth and jobs agenda that in May won him India's biggest election mandate in three decades. The budget is due on Thursday.

Expecting Budget 2014 to be in vibrant 'Modi style', India awaits with bated breath. However, with the not-so-populist railway budget, there could be uncertainty about its favourableness.