Many of the jobs will now be offshored to lower income countries such as India, China and Poland
Back- and middle-office positions that support trading functions and provide technology services will be cut
Most of the extra spending in the Budget is in fact an accounting entry that shifts the cost of an interest subsidy to the agriculture Budget that was previously borne by the finance ministry
Prime Minister Narendra Modi's landslide election in 2014 raised hopes he would draw a line under India's socialist past, cut welfare and reduce the government's role in business.
Modi denies the charges and was exonerated in an Indian Supreme Court inquiry in 2012.
As Modi completes a year in office, his cuts in federal welfare spending on the poorest of India's 1.25 bn people are coming in for sharp criticism.
Drunk driving can attract a fine up to Rs 50,000.
British India Corporation employs about 1,800 people
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