Budget 2026-27 charts path to 5 trillion dollar economy milestone within few years: Manoj Sinha

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Sunday hailed as pragmatic the Union Budget 2026-27, which he said will chart a path to the 5 trillion dollar economy milestone within a few years and adopt a comprehensive fiscal strategy that will balance growth ambition and social welfare.

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Sunday hailed as pragmatic the Union Budget 2026-27, which he said will chart a path to the 5 trillion dollar economy milestone within a few years and adopt a comprehensive fiscal strategy that will balance growth ambition and social welfare. He expressed gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman for the development of ecologically sustainable mountain trails in Jammu and Kashmir. This will generate fresh employment opportunities and invigorate the tourism industry with renewed vigour, he said. ''Budget 2026-27 is pragmatic. It will prioritise economic acceleration, create future-ready infrastructure, sustain growth momentum, chart the path to the 5 trillion dollar economy milestone within a few years. The comprehensive fiscal strategy will balance growth ambition with social welfare,'' he said. The lieutenant governor said the budget emphasises accelerating economic expansion, strengthening infrastructure and advancing manufacturing capabilities across seven strategic sectors, while maintaining a steadfast commitment to welfare. ''It will have a transformative impact on burgeoning industries, renewed momentum for semiconductor advancement through India Semiconductor Mission 2.0, and a substantial stride toward diminishing India's reliance on other countries for rare earth elements with specialised rare earth zones,'' he said. Sinha said that with Artificial Intelligence, job creation and service sector enhancement taking centre stage, India's competitive edge will strengthen across every economic domain, while this progressive financial blueprint will establish the foundation for comprehensive sectoral expansion and global prominence. This will speed up the path to the Rs 5 trillion economy milestone within a few years. It also presents the ambitious vision to achieve developed economy status in less than two decades, he said. The lieutenant governor said the budget also promises unprecedented empowerment for youth, women and farmers. ''With manufacturing, infrastructure, MSMEs, healthcare, urban advancement, electronics, and supply networks forming the core of the future strategy to maintain the country's economic momentum, I believe we will be able to expand domestic production and ensure substantial employment generation,'' he added.

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