The economic policies of Modis government focused on privatisation and liberalisation of the economy, based on a neoliberal framework.[187][189] Modi liberalised Indias foreign direct investment policies, allowing more foreign investment in several industries, including in defence and the railways.[187][190][191] Other reforms included removing many of the countrys labour laws, to make it harder for workers to form unions and easier for employers to hire and fire them. These reforms met with support from institutions such as the World Bank, but opposition from scholars within the country. The labour laws also drew strong opposition from unions: on 2 September 2015, eleven of the countrys largest unions went on strike, including one affiliated with the BJP.[189] The Bharatiya Mazdoor Sangh, a constituent of the Sangh Parivar, stated that the reforms would hurt labourers by making it easier for corporations to exploit them.[187] In his first budget, Finance Minister Arun Jaitley promised to gradually reduce the budgetary deficit from 4.1 percent to 3 percent over two years, and to divest from shares in public banks.[187] Over Modis first year in office, the Indian GDP grew at a rate of 7.5 percent, making it the worlds fastest-growing large economy.[189]The funds dedicated to poverty reduction programmes and social welfare measures were greatly decreased by the Modi administration.[123]The money spent on social programmes declined from 14.6% of GDP during the Congress government to 12.6% during Modis first year in office.[187]Spending on health and family welfare declined by 15%, and on primary and secondary education by 16%.[187] The budgetary allocation for the Sarva Shiksha Abhiyan, or the education for all programme, declined by 22%.[187] The government also lowered corporate taxes, abolished the wealth tax, and reduced customs duties on gold, jewelry, and increased sales taxes.[187] In October 2014, the Modi government deregulated diesel prices,[192] and later increased taxes on diesel and petrol.[187]